EU releases updated public CbC reporting forms
The European Commission (EC) published a revised regulation that provides the common template and electronic reporting formats for the EU public country-by-country (CbC) reporting directive on 21 October 2024. This follows after the conclusion of
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Australia: ATO extends CbC reporting deadlines
The Australian Taxation Office (ATO) announced, on 13 November 2024, an extension for the filing deadline of country-by-country (CbC) reporting entities for the year ending 31 December 2023. The deadline has been extended until 31 January
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Luxembourg updates CbC reporting guidance
The Luxembourg Administration of Direct Tax has updated its Country-by-Country (CbC) reporting guidance page, including an updated CbC reporting FAQ, to reflect the latest OECD recommendations. The update addresses whether profits (losses) before
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Hungary approves CbCR IGA with the US
Hungary’s parliament passed the 2024 Hungary-US Agreement on the Automatic Exchange of Country-By-Country (CbC) Reports on 4 November 2024. The CbC agreement was signed on 15 July 2024 by Hungary and on 1 August 2024 by the US. The newly
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Kazakhstan updates transfer pricing procedures, introduces new local and master file forms
Kazakhstan has issued Order No. 633 of 19 September 2024, which updates Order No. 1104 from 24 December 2018 concerning the forms and procedures for submitting local files, master files, and Country-by-Country (CbC) reports; and introduced new forms
See MoreEuropean Commission updates draft rules for public CbC reporting template, digital formats
The European Commission has released a revised draft of the Commission Implementing Regulation, establishing a standardised template and electronic reporting formats for Public Country-by-Country (CbC) reporting within the EU. This initiative
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Turkey updates transfer pricing communiqué to align with new CbC reporting deadlines
Turkey’s Ministry of Treasury and Finance released General Communiqué No. 5 on Transfer Pricing on 17 October 2014. This Communiqué amends General Communiqué No. 1 on Transfer Pricing and aligns it with new deadlines for Country-by-Country
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Dominican Republic extends CbC reporting deadlineÂ
The Dominican Republic's Directorate General of Internal Revenue (DGII) announced a second extension for the submission deadline of Country-by-Country (CbC) reports, published in Notice 16-2024, dated 30 August 2024. The new deadline for
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Ukraine: Multilateral Agreements for Exchange of CbC Reports, Financial Account Information Under CRS enters into force
The multilateral component authority agreements for the exchange of Country-by-Country Reports (CbC MCAA) and for the exchange of financial account information under the Common Reporting Standard (CRS MCAA) has entered into force in Ukraine. The
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Switzerland updates jurisdictions list for CbC report exchange
Switzerland released an updated list of jurisdictions on 16 September 2024 with which it will exchange Country-by-Country (CbC) reports. The new list, dated 1 September 2024, includes 93 jurisdictions and provides details on each jurisdiction's
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Russia updates CbC automatic exchange report list
The Russian Federal Tax Service is completing a draft order for an updated list of states and territories for automatic exchange of Country-by-Country (CbC) reports, set to replace the list established in Russia's Order No. ED-7-17/1226@ dated 22
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Italy issues decree on public CbC reporting
Italy issued Legislative Decree No. 128 of 4 September 2024 in the Official Gazette, implementing Public Country-by-Country Reporting (PCbCR), on 12 September 2024. Earlier, Italy’s Council of Ministers passed the draft decree on 10 June
See MoreSwitzerland updates list of jurisdictions under MCAA for CbC reporting
The Swiss Official Gazette published Decision No. RO 2024 502, which updates the list of participating jurisdictions under the Multilateral Competent Authority Agreement (MCAA) for the exchange of country-by-country (CbC) reports on 16 September
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Turkey updates CbC reporting notification deadline
Turkey Revenue Administration introduced amendments to the country's transfer pricing regulations which revises the deadlines and authority responsible for overseeing transfer pricing compliance, particularly for Country-by-Country (CbC) reporting,
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Albania implements country-by-country reporting legislation
Albania enacted regulations on 11 August 2024, concerning country-by-country (CbC) reporting, outlining specific rules and procedures that ultimate parent entities and constituent entities of a multinational enterprise (MNE) group must follow
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Singapore updates CbC reporting jurisdictions, adds Ukraine
The Inland Revenue Authority of Singapore (IRAS) has revised the list of jurisdictions for exchanging Country-by-Country (CbC) reports under the Multilateral Competent Authority Agreement on Automatic Exchange of Country-by-Country Reports (2016)
See MoreEU Commission consults CbCR template, electronic formatsÂ
The European Commission (EC) initiated a public consultation regarding draft legislation for a common template and electronic formats for public country-by-country (CbC) reports on 1 August 2024. Large multinational corporations operating in the
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Australia: Senate releases report on public CbC reporting bill
Australia’s Senate Economics Legislation Committee has released its report on legislation introducing public country-by-country (CbC) reporting in Australia. The committee advised to approve the legislation with amendments to ensure the proposed
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