The Swiss federal tax authorities have introduced a new portal for the submission of Country-by-Country Reporting (CbCR) in Switzerland. Together with the introduction of the portal the Swiss tax authorities have published certain updates to the guidance and announced that from 1 February 2021 CbCRs will need to be submitted in the OECD XML-Scheme 2.0.
The Swiss federal tax authorities (SFTA) published two updates to their guidance documents for the filing of the CbCR in Switzerland this summer. The publication on 24 June 2020 introduced the use of the new filing portal, while the update on 31 August 2020 clarifies the use of the new OECD CbCR-XML-Scheme 2.0 from 1 February 2021 on.
For persons who have received the filing authorisation for previous years, so-called administrators, the reporting entity will receive a letter with an activation code directly. New administrators will receive a request for power of attorney. It will now be possible to register multiple administrators for the same reporting entity.
For first time filers, who need to register the reporting entity within 90 days after the end of the fiscal year, activation of their access to the portal will complete the registration requirement.
Filing will need to be completed within 12 months after the reporting period via upload of the XML-Scheme in the portal, at which point no specific naming convention will need to be respected anymore. Confirmation of validation will also be visible in the portal from now on.
Update to XML scheme
The June update only saw a minor update on MessageRefID and DocRefID requirements for MNEs whose fiscal year does not match the calendar year.
The August update announces the introduction of the OECD CbCR-XML-Scheme 2.0 from 1 February 2021 on. For MNEs using Deloitte’s CbCR Filings Essential Plus platform (previously CDX Smart) for the conversion to XML, an automatic update to the new scheme will be available.
For more information or assistance in filing your CbCR, please do not hesitate to contact us.