This post comes in 2 parts: Part 1. It is so important that MNEs respond to this. Doing nothing will cost tens if not hundreds of thousands of Euros. Here are some things to ask for. Right now both the OECD and the EU seems to be following a very hands-off approach and seem to let the individual countries do what they want. 1. Ask that all countries use the exact same schema and do not each throw in their own odds and bits. Read this post of mine on CbCR (you know, the "easy" one) and how country specific requirements (link below) create unnecessary complexity. 2. Ask that countries exchange the P2 files with each other as much as possible, so we do not have to do multiple filings. 3. When countries do do their own thing, ask that they publish sample xml files (which work and are not outdated). 4. Ask countries to stop inventing their own DocRefID requirements. They are all sharing these files with each other and if Germany must read UK filings and the UK must read Dutch filings, standardise the all the DocRefIds and focus on ease of compliance. 5. Publish what the standard UTF-8 character set is. Right now different countries are rejecting different characters. 6. Make the required namespace public (it happens automatically if the OECD and countries would also publish sample xml files). 7. Make xml conversion and validation tools available online, or better still develop one central tool that can convert an Excel template into the required xml schema. If I can do that, so can the OECD and the countries.
Yes, very correct article, but not achievable. Countries are ruled by politicians, so economic reasons are left behind (at first) and political goal are the priority (at least by the earliest selections).
Exactly that
Carrie Cheng
5mo
Well said
Victoria Hulley