- Latest available (Revised)
- Original (As made)
The Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) (Amendment) Regulations 2017
You are here:
- UK Statutory Instruments
- 2017 No. 497
- Explanatory Note
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
EXPLANATORY NOTE
(This note is not part of the Regulations)
The Regulations amend the Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) Regulations 2015 (S.I. 2016/237) (“the principal Regulations”).
By regulation 4, regulations 3 and 4 of the principal Regulations are re-written as regulations 3 to 3D with some additional elements. Regulation 4 inserts regulation 3A into the principal Regulations to require partnerships in the United Kingdom which are parent entities of multi-national groups to file country-by-country reports with Her Majesty’s Revenue and Customs (“HMRC”) in addition to entities which are not partnerships.
Regulations 3A and 3C as inserted into the principal Regulations also require entities of multi-national groups to file notifications with HMRC which will include details about the other entities of the group in the United Kingdom. The method of notification will be set out in directions made by the Commissioners for HMRC.
Regulation 3B as inserted into the principal Regulations also requires entities of multi-national groups in the United Kingdom (“United Kingdom entities”) which have parent entities in other jurisdictions to request information about the whole group from the parent entity in certain circumstances. If the information is received the United Kingdom entities are required to file a country-by-country report in respect of the whole group. If the information is not received, the United Kingdom entities are required to file a United Kingdom country-by-country report.
Regulation 3(8) of the principal Regulations is re-written as regulation 3D.
By regulation 5, regulation 4 of the principal Regulations is revoked.
Regulation 6 amends regulation 6 of the principal Regulations to narrow one of the conditions in which United Kingdom entities must file United Kingdom country-by-country reports with HMRC.
Regulations 7 to 9 deal with, the form and method of filing reports with and providing notifications, to HMRC.
By regulations 11 and 12, regulations 12 and 16 of the principal Regulations are amended such that penalties apply in respect of failure to comply with the obligations in regulations 3A, 3B, 3C and 3D.
A Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThis Explanatory Note only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Memorandum
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.