8‑195 Meaning of Relevant CbC Regulation8‑195 Meaning of Relevant CbC Regulations and Country‑by‑Country Reporting regulations

8‑195 Meaning of Relevant CbC Regulations and Country‑by‑Country Reporting regulations

(1) Relevant CbC Regulations of an MNE Group means: (a) if the jurisdiction in which the Ultimate Parent Entity of the MNE Group is located (the UPE jurisdiction) does not have Country‑by‑Country Reporting regulations and the MNE Group is not required to file a Country‑by‑Country Report in any jurisdiction—the following documents: (i) the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations, as approved by the Council of the OECD and last amended on 7 January 2022; (ii) Guidance on the Implementation of Country‑by‑Country Reporting: BEPS Action 13 (Updated May 2024) of the OECD; or (b) if paragraph (a) does not apply and the MNE Group is does not file a Country‑by‑Country Report in the UPE Jurisdiction—the Country‑by‑Country Reporting regulations of the surrogate parent entity jurisdiction (determined in accordance with the documents mentioned in subparagraphs (a)(i) and (ii)); or (c) otherwise—the Country‑by‑Country Reporting regulations of the UPE jurisdiction. (2) Country‑by‑Country Reporting regulations means any of the following: (a) Subdivision 815‑E of the Income Tax Assessment Act 1997 (Reporting obligations for country by country reporting entities); (b) a law of a non‑Australian jurisdiction corresponding to that Subdivision.