Update on Local File Lodgment
Last week, the ATO announced it was ready to start accepting Country-by-Country statements via electronic lodgments, including Part A of the Local File.
We are very pleased to advise you can now lodge Part A of the Local File using CCH Integrator.
CCH Integrator will help you save time and reduce your risk of incurring the significantly increased ‘failure to lodge’ penalties for late lodgments by validating your Local File disclosures in accordance with the ATO published rules, and then e-Filing with the ATO via SBR Lodgment Portal.
In addition, CCH Integrator’s Local File solution also assists you with:
- Preparation – Using robotic technology, CCH Integrator’s Local File solution will learn your current process and steps for gathering and transforming intercompany transaction data (currently in MS Excel), to automate those steps in the future and de-risk the preparation of Part A of the Local File.
- Review – Ability to review summarised transactions and collect and store the other attributes for each intercompany transaction in CCH Integrator’s Local File disclosures, including intercompany legal agreements, Advance Pricing Arrangements (APAs), Master File documentation and financial accounts.
To talk to us or to find out how we can help with your Local File requirements click here.