Australia: ATO issues urgent notification for CbCR lodgments
The Australian Taxation Office (ATO) has issued an email notification regarding an essential update on Country-by-Country reporting (CbCR) lodgments. An increased number of data validations will now be performed on lodgments before they are
See MorePanama extends CbC reporting deadline and notification again
On 31 January 2020, Directorate General of Revenue of Panama has issued Resolution No. 201-1035 in the official gazette, which extends the deadline for filing the Country by Country Report (CbC) and the Notification as well. The Resolution
See MorePanama introduces CbC registration process via AEOI portal
The FATCA & AEOI Portal of Panama's Directorate General of Revenue (DGI) is now accepting registration for Country-by-Country (CbC) report presentation and notification purposes, as well as for FATCA and CRS purposes. The CbC reporting
See MoreIndia: CBDT issues notification to amend the rules for furnishing master file and CbCR
On 6 January 2020, India’s Central Board of Direct Taxes issued a notification amending the rules for maintenance and furnishing of information and document made by constituent entities of international groups. The amendments mainly clarifies the
See MoreSri Lanka: IRD declares CbC reporting and notification deadline
On 17 December 2019, the Inland Revenue department (IRD) of Sri Lanka has issued a notice on the filing of Country-by-Country (CbC) reports by MNE groups. According to Regulation 6 of the Extraordinary Gazette No. 2104/4 of 31
See MoreHong Kong: IRD extends CbC reporting deadline for local filing
On 18 December 2019, Inland Revenue Department announced an extension to the due date for local filing of some country-by-country tax reports. The local filing requirement applies to a relevant accounting period beginning on or after 1 January
See MoreSerbia: Parliament amends the corporate income tax law including CbCR obligations
On 6 December 2019, the Serbian Parliament passed the legislation that amends the corporate income tax law including requirements for country-by-country (CbC) reporting of controlled transactions within a corporate group. The Law is published in
See MoreUS: IRS issues a notice requesting comments on CbC form
On 6 November 2019, the US Internal Revenue Service (IRS) published a notice requesting comments concerning IRS Form 8975 regarding CbC report. The Internal Revenue Service, as part of its continuing effort to reduce paperwork and respondent
See MoreSerbia: Parliament adopts draft bill to implement CbC reporting obligations
On 18 October 2019, the Serbian parliament accepted for consideration a bill to implement country-by-country (CbC) reporting obligations for multinational entities (MNEs). Under this ultimate parent entities of an MNE group resident in Serbia are
See MoreNigeria: FIRS introduces e-filing for submitting TP returns
On 27 September 2019, Federal Inland Revenue Service (FIRS) described the way of how to submit transfer pricing (TP) returns through the electronic platform, when it is active. Now, the FIRS is get ready to automate the process of filing TP
See MoreRomania introduces mandatory online submission for CbC Reporting
On 19 August 2019, Romania has published Order No. 2.273, amending the rules on submission of Country-by-Country (CbC) reports and notifications, effective from 26 August 2019. Now both CbC reports and notifications must be submitted through
See MoreHong Kong: IRD extends Country by Country (CbC) reporting notification
On 21 March 2019, the Inland Revenue Department (IRD) published an announcement of extending CbC notification in respect of the accounting period beginning 1 January 2018. Under this, the notification deadline for accounting period beginning 1
See MoreArgentina: General Resolution 4332/2018 publishes regarding CbC reporting requirements
The Federal Administration of Public Revenues (AFIP) has published General Resolution 4332 of 8 November 2018, which includes several amendments to General Resolution 4130 regarding Country-by-Country (CbC) reporting. It enters into force from
See MoreNigeria: FIRS publishes a public notice regarding CbC Regulations
The Federal Inland Revenue Service (FIRS) issued a public notice on September 17, 2018. This notice provides alert that income tax country-by-country (CbC) reporting regulations S.I. no. 6, 2018 entered into force with effective from January 1, 2018
See MoreNew Zealand’s taxation act regarding Neutralising Base Erosion and Profit Shifting receives royal assent
New Zealand's Taxation (Neutralising Base Erosion and Profit Shifting) Act received royal assent on 27 June 2018. The main measures of the Act are summarized as follows: CbC reporting requirement: According to the published guidance on
See MoreNigeria: FIRS publishes Income Tax (CbC Reporting) regulations
The Federal Inland Revenue Service (FIRS) has released the Income Tax (Country-by-Country Reporting (CbCR)) Regulations on June 19, 2018. It was published in an official gazette on January 8, 2018. This CbCR Regulations give guidelines to
See MoreRussia approves format for CbC Reports and Notification for multinational groups
On 6 May 2018, Russia’s Federal Tax Services (FTS) issued Order No. MMV-7-17/123 and Order No. MMV-7-17/124 issued on 26 April 2018 in the Official Gazette. The orders approves the format and method of submission for Country-by-Country (CbC)
See MoreIndia publishes clarification regarding requirement for furnishing CbC report
On 23 March 2018, the Government of India published clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961. The government also confirmed that where a non-parent constituent
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