NewsCase StudiesEvents

Country-by-Country reporting (CbC Reporting)

Also in the news...

Norway's WTO Trade Policy Review: UK Statement

UK Statement at Norway’s World Trade Organization Trade Policy Review. Delivered by the UK's Permanent Ambassador to the WTO and UN, Simon Manley.

UK-Norway Iceland Liechtenstein free trade agreement

Business guidance, reports and other documents to help you understand the UK-Norway, Iceland, and Liechtenstein free trade agreement (FTA).

Essential Steps Before Launching an International Auction Business

Expanding a business internationally presents unique challenges, particularly when that business involves auctions. The global auction market continues to grow as more entrepreneurs see its potential for reaching new customers across borders. However, success in this specialised field requires careful planning and the right technological foundation.

Innovative Welsh exporter puts Britain at the forefront of global immunisation efforts

UK Export Finance supports renewable energy tech company Dulas to deliver life-saving vaccine refrigerators to over 80 countries worldwide.

British aerospace manufacturers to benefit from UK-US trade deal

British aerospace manufacturers to benefit from UK-US trade deal as further details announced

Country-by-Country reporting (CbC Reporting)

Back to News

What is Country-by-Country Reporting

Country-by-Country Reporting, often abbreviated as CbC Reporting or CbCR, is an international corporate reporting standard that requires multinational companies to provide information on their taxable income, taxes paid and other financial activities in each country where they operate. The purpose of Country-by-Country Reporting is to increase transparency and combat tax evasion by allowing authorities to see where a company generates its income and where it pays its taxes.

Country-by-Country Reporting has been implemented in several countries, including Denmark, and is an important part of international efforts to increase tax transparency and combat tax evasion. Country-by-Country Reporting enables authorities to identify and address tax evasion, and ensure that multinational companies pay their fair share of taxes in the countries where they operate.

Country-by-Country Reporting for Danish companies

Danish companies acting as either a parent company or a surrogate parent entity in a group with a total turnover of DKK 5.6 billion or more in an income year are subject to reporting obligations regarding CbC information, and must therefore submit a Country-by-Country Report to the Danish Tax Agency. The requirement stems from the international agreement on the automatic exchange of CBC reports, which Denmark has been part of since 2016.

Country-by-Country notification

Before the end of the current income year, Danish companies that are part of a multinational group with a consolidated turnover of DKK 5.6 billion or more in one income year must inform the Danish Tax Agency of which group company is obliged to submit a Country-by-Country Report for the subsequent income year.

Within a joint taxation, only the administration company is required to provide Country-by-Country Reporting on behalf of the joint taxation group.

Do you need help with Country-by-Country reporting?

At Azets, we can assist Danish companies that have a reporting obligation cf. the abovementioned requirements, with reporting the statement for Country-by-Country Reporting to the Danish Tax Agency.

READ MORE ABOUT OUR SERVICES.

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.