To help you understand the new Country-by-Country reporting requirements, the ATO now has a publication on the high level design of the Local file (similar to that released on 7 July).

The Local file is a statement multinational entities with an annual global income of A$1 billion are required to provide us for income years commencing on or after 1 January 2016.

The Local file design:

  • outlines our approach to the information requirements in Annex II of the OECD guidanceExternal Link
  • builds on our advice in paragraphs 40-43 of our Law Companion Guideline
  • ensures Australia meets its commitments under OECD Action 13, while minimising overlap with existing reporting requirements.


[ATO website] [Tax Month related article] [LTN 147, 2/8/16]