Czech Republic: Chamber of Deputies passes legislation to implement CbC reporting

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The chamber of deputies approved a legislation that implements a new information exchange duty, i.e. country-by-country (CbC) reporting into Czech legislation. The legislation will be effective when all legislative and processes are done. According to the legislation, companies those are members of a multinational enterprise (MNE) group, with a consolidated group turnover more than Euro 750 mil in the fiscal year have to file the CbC report. The report is required to be submitted within 12 months after the end of the period.

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