As part of the 2022–23 Budget, the Government announced it would introduce reporting requirements for relevant multinational entities to enhance the tax information they disclose to the public.
This new measure was enacted on 10 December 2024 and supports the Government’s commitment to ensuring multinational entities pay the right amount of tax.
What this means
For reporting periods commencing on or after 1 July 2024, Public Country-by-Country (CBC) reporting Ultimate Parent Entities (UPE's) need to report certain tax information on a CBC basis, to the ATO. The due date for Public CBC reports will be one year after the reporting period ends.
Does this apply to you?
Public CBC reporting UPEs are required to publish information in relation to a reporting period if they satisfy all of the following:
- they're a CBC reporting UPE for a period that includes the whole or a part of the preceding reporting period
- they're a member of a CBC reporting group at any time during the reporting period
- at any point during the reporting period, they, or a member of their CBC reporting group, is an Australian resident or foreign resident with an Australian permanent establishment
- $10 million or more of their aggregated turnover for the income year is Australian-sourced
- they're not an exempt entity or included in a class of exempt entities.
Relevant businesses will need to report tax information to us each year.
For more help
For more information and help on Public CBC reporting requirements, go to www.ato.gov.au/publiccountrybycountryreporting.
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