The Australian Taxation Office (ATO) published additional guidance to help taxpayers understand the process when applying in Australia for an exemption from Country-by-Country (CbC) reporting obligations. According to the guidance it outlines the general principles and processes the ATO follows when considering an exemption request from a particular entity with respect to some or all of its Country-by-Country (CbC) reporting obligations.

The following subjects are discussed in the additional guidance:

·   Who can request an exemption?

·   What should you include in your request for an exemption?

·   When should you request an exemption?

·   When will we respond to your exemption request?

·   How will we decide your exemption request?

·   What factors will we take into account when considering exemption requests?

·   What is the scope of an exemption, if granted?

·   What if after being granted an exemption your facts or circumstances change?

·   Can you request an exemption for more than one reporting period?

·   Do you need to request an exemption from lodging a CbC report in Australia if your global parent entity is subject to CbC reporting in a foreign jurisdiction?

·   Will we exempt you from providing the CbC report and/or the master file if your global parent entity is exempt from providing it/them in its home jurisdiction?

·   Will we exempt you from providing the CbC report and/or master file on the basis that your global parent entity is a resident for tax purposes in a jurisdiction that has not yet implemented CbC reporting?

·   What if your global parent entity is a resident for tax purposes in a jurisdiction that has not implemented CbC reporting, and that country has not made any official pronouncement that it will do so?

·   In respect of your master file only, what if your global parent entity is required merely to prepare it but has not provided it to you?

·   What happens if your global parent entity will not provide the information for you to provide us with the master file?

·   Will we grant an SGE that is an Australian resident and global parent entity an exemption from filing the CbC report?

·   Will we grant you an exemption from lodging the master file and CbC report solely on the basis that you complete the short form local file?

·   Will we grant you an exemption from CbC reporting solely on the basis that you are not required to lodge an IDS?

·   Will we grant you an exemption from CbC reporting solely on the basis that you have an APA or Annual Compliance Arrangement (ACA)?

·   What rights of review do you have if you are dissatisfied with our decision?

·   Will we issue a class exemption in respect of sovereign wealth funds or superannuation funds?

Click here to be forwarded to the additional guidance as available on the website of the ATO, which will open in a new window.

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