Tax implications for significant global entities and country-by-country reporting entities

Tax Insights

Multinational groups with operations in Australia must understand the critical concepts of Significant Global Entities (SGEs) and Country-by-Country Reporting Entities (CbCREs), as these trigger numerous targeted integrity and tax transparency measures, and potentially a draconian penalty regime.Australian Tax Implications for significant global entities and country by country reporting

Generally, this is targeted at larger groups with more than A$1 billion in global revenues.

The rules do have some intricacies, particularly for some groups with majority private equity ownership, which can find themselves classified as SGEs, but not CbCREs.

Careful consideration of these rules is strongly recommended given the very harsh outcomes and incremental obligations they entail.

To understand the rules and obligations in detail, download a copy here of our SGE and CbCRE guide. 

For more information on the tax implications of SGEs and CbCREs, please contact your local RSM tax adviser

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