News Share

The Tax Hub

Daily Tax Newsletter


9 March 2017

Responsive image

Canada Publishes CbC Reporting Guidance

The Canada Revenue Agency (CRA) has published Guidance on Country-By-Country Reporting in Canada. The guidance covers the particulars of Canada's CbC reporting requirements using form RC4649 Country-by-Country Report, which is required to be filed for fiscal years beginning on or after 1 January 2016 for MNE groups meeting a consolidated group revenue threshold of EUR 750 million in the previous year. The requirement to file applies for ultimate parent entities resident in Canada, surrogate parent entities if appointed, and constituent entities if conditions for secondary reporting mechanism are met. In general, the CbC report must be filed no later than 12 months after the last day of the fiscal year to which the report relates. However, in the event secondary reporting is required due to a systemic failure for exchange with a foreign jurisdiction in which a group's CbC report is filed, the CbC report will be due by a constituent entity in Canada within 30 days of receiving a notification of systemic failure.

In addition to covering the main requirements of CbC reporting in Canada, the guidance also covers various other CbC reporting issues, including the impact of currency fluctuations on the EUR 750 million filing threshold, requirements for fiscal years less than 12 months, change of ultimate parent during the fiscal year, and voluntary filing (parent surrogate filing) in other jurisdictions. With respect to voluntary filing, Canada will accept such filing in other jurisdictions as meeting its CbC reporting requirements provided certain conditions are met, including that a qualified competent authority agreement for CbC exchange is in effect between Canada at the jurisdiction of residence of the ultimate parent by the first deadline for the CbC report in Canada.

Powerful Tax Tools


FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.


Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.


Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.


Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.


Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.



Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.


Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.


Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.


Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.


Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.


Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.


Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.


VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.


NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.


Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.


Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Translate Documents

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More