Multinational corporations that generate sales revenues of 750 million euros or more are required to submit country-by-country reporting data to the German Federal Central Tax Office (BZSt). This country-by-country report must be in an officially prescribed data set in accordance with the XML schema, which should be based on the OECD's model form for this purpose. The XML schema should also preferably be transmitted electronically in English.
The U2 Country by Country Reporting module generates this required XML file according to the OECD schema from customer-specific Country by Country Reporting data (e.g. Excel). In Germany, the data is transmitted to the BZSt via the electronic mass data interface ELMA.
In preparation, the list of company master data, the CbCR key figures and the main business activities of the individual companies must be provided for the U2 Country by Country Reporting module. If the key figures are recorded in local currency, they must be converted into the group currency by the CbCR converter. For this purpose, the currency conversion rates must be provided for conversion into the currency to be reported (e.g. euro). If the data is already completely available in the group currency, the translation and thus also the provision of the exchange rates is not required.
In Austria, there are deviations from the OECD standard and a separate XBRL file must be created for each country. This is also taken into account by the software solution.
The software has user and authorization management.
Corporations with more then 750 million turnover.
More than 70 German corporations including