On 24 November 2017, The Australia Taxation Office (ATO) today announced it has extended the due date for filing country-by-country (CbC) statements until 15 February 2018.

The due date for filing CbC statements for the first reporting year was established as 31 December 2017.

The ATO on 23 November 2017 granted an extension of time to file CbC statements. Under this extended period, for the first reporting year, “December balancers” will have until 15 February 2018 to lodge (file) their CbC statements, consisting of the CbC report, the Master file, and the Local file (as applicable under the law). Failure-to-lodge (failure-to-file) penalties will not apply to statements that are filed by 15 February 2018.

 

[LTN 226, 24/17; KPMG report; Tax Month Nov 2017; ATO website: CbC reporting]

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