Brazil: Regulation on CbC reporting

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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.

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