Due to the recent legal requirements of the OECD with respect to the Country-by-Country Reporting (CbCR), multinational enterprises have to ensure the correct data- and transmission structure of the aggregated and prepared CbC Reports to the competent authority.
The OECD provides a standardized electronic format, the CbC-XML-schema, for the exchange of CbC Reports between the jurisdictions.
In order to ensure compliance of the mandatory User Guides* of OECD and the additional German specific legal requirements by BZSt, we have developed the WTS CbCR-2-XML portal.
Our online-tool** is fully compliant with the German BZSt requirements for the mandatory XML-files. The WTS CbCR-2-XML portal covers all specifications for a successful transmission of the data from the tables 1-3 in the required data structure. The existing already validated CbCR-data will be uploaded via standardized CSV-file*** into the WTS CbCR-2-XML portal by entering additional user data into a web browser. In the next step the portal transforms the data of the imported files into the required XML-structure of the OECD and the German BZSt. Then, the converted file can be transmitted via the fully integrated ELMA5 interface to German tax authority BZSt. In addition the current status of the XML-file validation will be available in our online-tool at any time.
Therefore the complete process regarding the CbC-reports will be covered within our WTS CbCR-2-XML portal. This includes the preparation of relevant data in the CSV-files, the conversion into required XML-structure, the transmission to the BZSt and the ongoing status update regarding the validation process.
In addition to our portal, WTS offers an individual risk report in relation to your CbCR-data. The risk report prepared by WTS (based on the WTS CbCRmanager) analyses graphically displayed key performance indicators of your company group. The resulting acquisition of information represents a considerable added value and enables you to identify potential risks.
* Country-by-Country Reporting XML Schema: User Guide for Tax Administrations and Taxpayers
** WTS does not save any data within the WTS CbCR-2-XML portal. Data will be deleted after generating the XML-file and logout of the user. The WTS CbCR-2-XML portal is hosted on a server by WTS in Germany.
*** Easily to generate by using Microsoft Excel.