Fully meet your obligations under Action 13 of the OECD BEPS framework

Vizor AEOI - Country-by-Country Reporting Module

Vizor AEOI Country-by-Country (CbC) Reporting module allows Tax Authorities who have signed up to the G20/OECD’s Base Erosion and Profit Shifting (BEPS) framework to fight tax avoidance and meet their obligations under Action 13 of the BEPS framework. This module extends the online web portal to allow Multinational Entities (MNEs) to register on the system and file CbC Reports which are then transmitted via the Common Transmission System (CTS).

The Problem

Tax Authorities who have signed up to the BEPS framework need a technical solution to meet their obligations under Action 13. A self-registration portal for MNEs is required to reduce the administrative burden on Tax Authorities. In addition, the technical solution needs extensive validation to ensure high quality and secure data exchanges.

The Solution

CbC Reporting is an add-on module for the proven Vizor AEOI product. It extends the online web portal to allow MNEs to register on the system and subsequently file CbC Reports. The back-end supervision centre is used by Tax Authority staff to approve MNE registrations, transmit CbC reports to partner jurisdictions via the Common Transmission System (CTS) and to monitor compliance within the system. This module can be implemented with customers in as little as two weeks.

Key Features

  • MNE self-registration The Tax Authority is immediately notified when an MNE registers and can approve new registrants or request additional information.
  • Extensive validation of CbC data Includes validation against the XML schema and additional business rules such as those specified in the OECD “CbC XML User Guide” and the “CbC Status Message User Guide”.
  • Automatic data transmissions and exchanges CbC data is automatically transmitted and exchanged with partner jurisdictions via the CTS with minimal intervention from the Tax Authority.
  • Single, fully searchable repository Includes management reports for monitoring, tracking and reviewing information within the system including status of exchanges with partner jurisdictions. All CbC data is available in a single, fully searchable repository, including data provided on a reciprocal basis.
  • Future-proof solution Extensive support and software upgrades included to keep you up to date with OECD changes to CbC data schemas and business rules. For example, the software was immediately upgraded to be aligned with the August 2017 changes to the OECD guidance on CRS with respect to FI filings.

Product Highlights

MNE Enrolment

  • Allow MNEs to enrol with the Tax Authority by completing an enrolment form.
  • Allow MNEs to enter information including name and details of the Appointed Person who will make CbC filings on behalf of the MNE.
  • Approve or reject a submitted enrolment form.
  • Approving an enrolment form automatically creates an MNE in the system and sets up a user account so CbC filings can be filed securely.

MNE Filings

  • Validate XML file uploads before submission to the Tax Authority for authorisation.
    • XML file is fully validated against relevant XSD file published by the OECD for CbC.
    • Email notifications sent automatically if submission fails.
  • Automatically execute business rules from Vizor CbC validation library.
  • Automatic submission of filing if both sets of validation produce no errors.
  • Once filing has passed, automatically notify MNE of submission acceptance.

CbC Filings and Reciprocal CbC Data

  • Automated CbC Data Packet preparation.
  • Automated transfer of the CbC Data Packet to the recipient jurisdiction inbox on the CTS via the Vizor Transmission Service.
  • Automated monitoring of the Tax Authority’s inbox at the CTS for incoming CbC Data Packets.
  • Automatically inform the Tax Authority of the status of the processed CbC report.
  • Accepted CbC data is stored and available for reporting and analysis.