Netherlands: Parliament adopted new Bill on CbC reporting requirement

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The Dutch lower house of Parliament adopted the Bill No.34651 to implement country-by-country (CbC) reporting on April 18, 2017. The bill allowed a group entity to serve as the reporting entity and a designated Dutch group entity to file an incomplete CbC report with all the information at its disposal. In addition, the bill clarified that a permanent establishment situated in the Netherlands cannot act as the surrogate parent entity or the designated group entity. The Dutch Lower House on that same day passed a legislation which increased the penalty for noncompliance to €820,000.

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