EU releases updated public CbC reporting forms

Lithuania’s government has proposed several tax reforms to curb tax evasion and improve compliance as per international standards. These include DAC8 and amending the Code of Administrative Offences, among others. On 9 October 2024, the Lithuanian Ministry of Finance

Hungary’s President has signed Law No. XLIII of 2024, officially ratifying the new Country-by-Country (CbC) reports exchange agreement with the US. The ratification was published in the Official Gazette No. 113 (Magyar Közlöny) on 13 November 2024. This follows after

The European Commission (EC) published a revised regulation that provides the common template and electronic reporting formats for the EU public country-by-country (CbC) reporting directive on 21 October 2024. This follows after the conclusion of a public consultation on the

The German Ministry of Finance (MoF) issued a draft bill proposing updates to the list of jurisdictions participating in the Multilateral Competent Authority Agreement (MCAA) for the exchange of country-by-country (CbC) reports on 14 November 2024. The updated list includes

The Council of Ministers of Bulgaria has approved the signing of the Multilateral Competent Authority Agreement for the Automatic Exchange of Information under the Crypto-Asset Reporting Framework (CARF MCAA) on Wednesday, 13 November 2024. The CARF MCAA is scheduled to be

Hungary's parliament is currently discussing Draft Bill T/9724, which proposes to extend the retail sales tax to include online marketplaces. The bill is expected to go into force on 1 January 2025. Hungary implemented a retail sales tax on goods sold to consumers in 2020.

The Australian Taxation Office (ATO) announced, on 13 November 2024, an extension for the filing deadline of country-by-country (CbC) reporting entities for the year ending 31 December 2023. The deadline has been extended until 31 January 2025. This deferral applies to local

The Economy, Banking, Finance, and Financial Intelligence Committee of the Peruvian Congress approved a bill to ratify the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) on 6 November 2024. Peru presented its

The Luxembourg Administration of Direct Tax has updated its Country-by-Country (CbC) reporting guidance page, including an updated CbC reporting FAQ, to reflect the latest OECD recommendations. The update addresses whether profits (losses) before income tax in Table 1 should

Bangladesh tax authority National Board of Revenue (NBR) announced that it will conduct its first transfer pricing audit of multinational companies (MNCs) operating in the country. Bangladesh first introduced transfer pricing provisions in the Finance Act in 2012 to curb tax