The G20 leaders at their summit in Antalya, Turkey, on November 15-16 endorsed the 13 final reports developed under the G20/OECD base erosion and profit shifting (BEPS) project including country-by-country (CbC) reporting, and urged the timely implementation of the project in all countries, including developing nations. BEPS Action 13 specifically outlines the CbC reporting template that multinational entities (MNEs) will use to report their income, taxes paid, as well as other indicators of economic activity. The intent is to improve the risk assessment capabilities of taxing authorities by providing them the CbC information of multinational companies at an early stage.
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