OECD Opens Consultation on Draft User Guide for GloBE Information Return XML Schema
Chris Danes · Posted on: July 16th 2024 · read
On 10 July 2024, the OECD opened public consultation on a draft user guide for the Global Anti-Base Erosion (GloBE) information return XML schema. The GloBE Model Rules require annual filing of a GloBE Information Return (GIR), which gives information on the tax calculations made by a multinational enterprise (MNE) group under the GloBE Rules.
The Inclusive Framework on BEPS has developed the draft XML schema and accompanying user guide in order to facilitate GIR filings and the implementation of the GloBE Rules. Once finalised, the GIR XML schema can be used for exchanging information under the Multilateral Competent Authority Agreement on GIR exchange (GIR MCAA) or other qualifying competent authority agreements.
The public consultation is open until 19 August 2024. For more information and to submit comments, see here.
It is hugely positive that there is additional clarity regarding these complex rules and there is an opportunity for business to feedback anticipated challenges, given the compliance burden can be astronomical compared to the Top Up tax exposure for our clients. The more certainty and simplicity in relation to Pillar 2 is most welcome.”
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Chris Denning, Head of Corporate International Tax: [email protected]
Chris Danes, Tax Partner: [email protected]
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