The Australian Taxation Office (ATO) has published Q&A guidance on Country-by-Country (CbC) reporting requirements, including the ATO's transitional administrative practice. The Q&A guidance covers:
- General issues and eligibility;
- Country-by-Country report;
- Master file; and
- Local file.
Regarding certain transitional relief, the Q&A guidance states that when a foreign parent voluntarily files a CbC report in its jurisdiction of residence, Australia will consider that the local e…