China: New guidance of CbC reporting
On 19 December 2017, China’s tax authority issued a public notice No. 46 clarifying country-by-country (CbC) reporting matters, that illustrate certain provisions of country-by-country (CbC) reporting will not apply for the CbC report for
See MoreIrish Revenue extends CbC reporting deadline
Ireland’s Country-By-Country (CbC) Reporting filing obligations are contained in Section 891H of the Taxes Consolidation Act 1997 and the Taxes (Country-by-Country Reporting) Regulations 2016. The first CbC Reports are due to be filed by relevant
See MoreBulgaria: Multilateral Competent Authority Agreement signs for exchange of CbC reports
Bulgaria has signed the Multilateral Competent Authority Agreement (MCAA) on November 17, 2017 for the exchange of country by country (CbC) reports under action 15 of the OECD’s BEPS
See MorePortugal: Country-by-country reporting form approved
Portugal’s country-by-country reporting Form 54 has been approved by Order No. 367/2017 on11 December 2017. The form must be submitted electronically every year in respect of fiscal periods starting as from 1 January 2016 within 5 months after the
See MoreFrance: Country-by-country reporting
On 5 December 207, the French tax authorities released a new rule regarding the country-by-country (CbC) reporting obligations provided for by article 223 quinquies C of the French General Tax Code. According to OECD guideline jurisdictions
See MoreItaly: CbC reporting requirements
The Italian Tax Authorities (ITA) issued a Protocol No. 275956 of 28 November 2017, regarding the change in the CBC reporting requirements. The Protocol instructs further implementation rules regarding the Law 208 issued on 28 December
See MoreDenmark announces deadline for preparation of transfer pricing documentation
The Danish Parliament legislated a Bill (No. L 13) on 7 December 2017. The Bill announced a deadline for the preparation of Danish transfer pricing documentation. According to the bill, Danish taxpayers are required to prepare transfer pricing
See MoreRussia: FTS publishes CbC reporting formats for public consultation
The Federal Tax Service (FTS) publishes country-specific reporting (CbC) formats and a report on participation in multinational enterprise groups on its official website. The new forms comply with BEPS Action 13 requirements for CbC and transfer
See MoreCanada: Deadline for filing of the CbC report
According to subsection 233.8(6) of the Act, the Country-by Country (CbC) report must generally be submitted with the CRA no later than 12 months after the last day of the fiscal year to which the report relates. That means, a CbC report for the
See MoreGreece: Revenue Authority publishes guide on submission of CbC reports
The Public Revenue Authority (AADE) published a guide to frequently asked questions (FAQs) on December 15, 2017 for describing clarifications on the country-by-country (CbC) reporting. This guide explains the step by step process and obligatory
See MoreIrish Revenue reschedules CbC reporting deadline
On 24 November 2017, the Irish Revenue published an eBrief No. 107/17 update stating that “Due to the late availability of the Country-by-Country (CbC) Reporting filing facility, it will remain open for, and accept, CbC Reports for fiscal years
See MoreNorway publishes updated guidelines on CbC reporting
The Tax and Customs Administration issued updated guidelines for the submission of the country-by-country reporting form RF-1352 (CbC) on 17th November 2017. According to the guidelines, CbC reports must be submitted by 31st December
See MorePakistan: FBR publishes rules for documentation and CbC reporting requirements
On 16 November 2017, the Federal Board of Revenue (FBR) in Pakistan has published SRO 1191(1)/2017, which includes chapter VIA to the Income Tax Rules of 2002. The new Chapter (VIA) identifies the reporting entities, clarifies the reporting
See MoreRussia approved draft law on automatic international exchange of tax information and documentation requirements
The Russian State Duma adopted in the final reading the draft law implementing international automatic exchange of financial accounting information and transfer pricing (TP) documentation of multinational Groups of Companies on 16 November 2017.
See MoreCosta Rica: Tax administration publishes draft resolution on CbC reporting
On 26 October 2017, Costa Rica’s tax administration released a draft version of a resolution that would require multinational enterprises (MNEs) to file a country-by-country (CbC) report. According to draft resolution, all Costa Rican tax resident
See MoreRomania: Guidance published on form for country-by-country reporting
On 14 November 2017, the tax administration published guidance Order no. 3049/2017 concerning the form to be used for filing country-by-country (CbC) reports. According to Order no. 3049/2017, the “country-by-country reporting” form should be
See MoreSweden: Income of pension funds to be included in the CbC reporting
The Swedish Tax Agency on 8 November 2017, has published a clarification (No. 202 439672-17/111) on any pension funds derived by life insurance companies, foreign occupational retirement institutions and pension funds pay are to be regarded as
See MoreColombia: New guidance for CbC reporting
In accordance with the amendments introduced by Article 108 of Law 1819 of 2016 modified article 260-5 of the Tax Code, the Colombian national tax authority (DIAN) announced that the new conditions must be fulfilled by taxpayers who are subject to
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