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ATO Update on Process for CbC Reporting Lodgments — Orbitax Tax News & Alerts

The Australian Taxation Office (ATO) has issued an email notification concerning an important update on Country-by-Country (CbC) reporting lodgments.

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There is important information below regarding your CbC Reporting lodgments made from 16 March 2020. We have considered your feedback and have made the following changes to ensure a more effective system.  

  1. An increased number of data validations will now be performed on lodgments before they are accepted.
    • These validations do not impose new lodgment requirements. They seek to ensure that CbC Reporting lodgments accepted by our systems comply with the relevant requirements.
    • These include identity matching of entities against details on our systems; such as name, ABN and TFN.
  2. This year, you can expect an email providing a confirmation within 24 to 48 hours of your lodgment. If you have not received an email within 5 days of making your lodgment, please contact the CbC Reporting team at CBCReporting@ato.gov.au.  

Our online guidance will be updated within the next two weeks with further information, including details of potential lodgment errors.

We plan to inform you further before these changes are implemented.

If there are any questions, please contact the CbC Reporting team at CBCReporting@ato.gov.au.