Brazil: Regulation on CbC reporting

Posted on Updated on

Normative Instruction 1,681/2016 was issued in the Official Gazette on 29 December 2016 regarding annual country-by-country (CbC) reporting.

 According to Normative Instruction 1,681/2016:

  1. Legal entities resident in Brazil are obliged to submit the annual CbC report.
  2. Resident legal entities with total consolidated income of the multinational group not exceeding, in the previous year, the following thresholds are exempt from the obligation:

The threshold for the CbC reporting requirement is EUR 750 million. If the ultimate parent company of a group is resident in Brazil the threshold is established at BRL 2.26 billion. The ultimate parent company must file the CbC report in Brazil under the rules laid down in Brazil.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s