The OECD today released its [Guidance on the Implementation of Country-by-Country (CbC) Reporting](http://www.oecd.org/tax/exchange-of-tax-information/guidance-on-the-implementation-of-country-by-country-reporting-beps-action-13.pdf) (BEPS Action 13). Under CbC reporting, multinational enterprises (MNEs) will be required to provide aggregate information annually, in each jurisdiction where they do business, relating to the global allocation of income and taxes paid, together with other indicators of the location of economic activity within the MNE group. It will also cover information about which entities do business in a particular jurisdiction and the business activities each entity engages in.
Following the endorsement of the [BEPS Package](http://www.oecd.org/ctp/beps-about.htm) by G20 Leaders in November, the focus has now shifted to ensuring a consistent implementation. The OECD/G20 BEPS Project provides governments with solutions for modernising international tax rules.
See today’s OECD Release [here](http://www.oecd.org/tax/new-steps-to-strengthen-transparency-in-international-tax-matters-oecd-releases-guidance-on-the-implementation-of-country-by-country-reporting.htm).