Country by Country Reporting (CbCR) is implemented in Anguilla through the Tax Information Exchange (International Cooperation) Act, 2016 which serves as the overarching legislation for all forms of exchange of information for tax purposes. Provisions for the CbCR are made by way of regulations, namely The International Tax Compliance (CBC Reporting) Regulations, 2019.
Country-by-Country Reporting (CbCR) is part of Action 13 of the OECD/G20 Action Plan on Base Erosion and Profit Shifting. CbCR requires Multinational enterprises (MNE) which meet certain criteria to file a country-by-country report (CbC Report) with local authorities which would provide a breakdown of the amount of revenue, profits, taxes and other indicators of economic activities for each tax jurisdiction in which the MNE group does business.
CbCR only applies to MNE groups with annual consolidated group revenue of not less than US$850 Million in the preceding fiscal year (MNE Groups). An Excluded MNE Group is a Group which does not meet the above-mentioned threshold. CbCR does not apply to Groups below the threshold.
The CbCR Regulations require Reporting Entities resident in Anguilla collect, maintain and report information for exchange with partner jurisdictions and impose a notification obligation on all Constituent Entities resident in Anguilla.
Pursuant the CbCR Regulations reporting will be conducted via the AEOI Portal and notifications are to be made as specified in the CbCR Guidance in accordance with the CbCR Regulations.