The Ministry of Finance (MoF) on 26 July 2017, issued detailed guidelines for Country-by-Country (CbC) reporting. The guidelines also include the form and instructions for submitting the CbC reporting notification and require the following essential information:
- a brief description of group companies;
- information on the reporting parent company; and
- the role of the local reporting subsidiary within the group, where applicable.
The first country-by-country (CbC) reports required to be made to the tax authorities are due by 31 March 2018 for the tax year 2017.