Detail of outcome
The responses to the final consultation were broadly positive. However, there were specific points raised requesting further clarification on a few issues which the government took into consideration when finalising the guidance.
The government has carefully considered all of the responses to the original Capital Requirements Directive 4: country-by-country reporting consultation and used them to inform the drafting of the legislation and accompanying guidance.
We now welcome any final views on the draft legislation and draft guidance. The draft legislation and draft guidance may change in light of comments received and as work continues. Our intention is for the Regulation to be made in December 2013.
We would like to hear from institutions subject to the CBCR requirements and associated bodies, including accounting firms who will audit and manage the disclosures. We are also keen to hear from all parties interested in tax transparency.