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Country-by-Country Reporting – Converting Excel to XML

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PwC-skatteradgivning-regulations-and-standards.pngIt is almost time to file the Country-by-Country report in a format called XML schema. Many multinational enterprises (MNEs) are now probably ready with their report but are uncertain on how to file the CbC report.

MNE Groups with a financial year ending 31 December will be required to file their first Country-by-Country Report (CbCR) by 31 December 2017. The Report is required to be filed in a format called “Extensible Markup Language (XML)”. The intention for the OECD is to facilitate an easy and automatic exchange of information of the CBC report between different tax jurisdictions. They developed a user guide on a common reporting structure and format for the reporting to be adopted by all countries. However, many countries like Sweden have made some local adaptation and adjustments to this format and it is required for MNEs reporting in Sweden to adapt to this local reporting format.

The Swedish Tax Authority (STA) has also opened a test webpage for MNE Group to test their CbC report in XML and check if all the data passes validation. If your CbC report does not pass the data validations, then you will receive an error report on the different areas where the data has failed to transmit. It will be prudent to test your data submission on the test website before you submit your final CbCR data. The webpage for final submission of the CbC report on the Swedish Tax Authority is expected to be open from 1 December 2017. PwC can assist MNE Groups on their issue of conversion from Excel to XML through a conversion tool. PwC has the necessary expertise and capabilities available to assist MNEs on their CbCR requirements. Please contact Rohit Sidhwani and Niklas Elofsson for more information regarding this solution.

For more information about the Swedish Tax Authority XML schema, click here

To test your XML, click here

Do you have any questions on corporate taxation?

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