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CbC Reporting Made Easy


A recent mandate from the OECD called on large, multinational companies to report financials annually for each country in which they do business to their local tax authority. The OECD specified that this detailed Country by Country (CbC) Report be filed in an XML document according to their reporting schema. But for tax departments that work largely in Excel or other accounting software, this presented a significant stumbling block – and companies found themselves scrambling to meet the requirements by the deadline.

What was needed is a way to automatically generate valid, properly formatted CbC XML reports based on existing data. Altova created the Country by Country Reporting Solution to do just that, either based on manually entered data or figures imported directly from Excel. Let’s take a look at how it works.

 

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How to Generate CbC Correction Reports


Altova’s Country by Country (CbC) Reporting Solution makes it easy for multi-national companies to generate valid XML reports to meet the filing requirements mandated by the OECD. Now, in Version 2.0, the CbC Reporting Solution includes new functionality for generating correction reports, as well as the ability to import existing reports for easy analysis.

Let’s take a look at how these new tools make it even easier for customers to meet filing requirements without having to deal with the underlying CbCR XML syntax.

Country by Country Reporting Solution for XML
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