Russia: 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 MoreRussia publishes final law on automatic exchange of tax information and documentation requirements
Recently, the Federal Law No. 340-FZ of 27 November 2017, amending the Tax Code in relation to the implementation of the international automatic exchange of financial accounting information and transfer pricing (TP) documentation of multinational
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 MorePeru: Amendments made to local file reporting requirement
The Peruvian Government issued transfer pricing (TP) regulations (Supreme Decree N° 333-2007-EF) on 17 November 2017 with detail guidance on the preparation and submission of the country-by country (CbC) report. According to amendments made to
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 MoreTaiwan: MoF announces changes to the transfer pricing documentation rules
The Ministry of Finance (MoF) published the amendment of Transfer Pricing Audit Rules on 13th November 2017. The rules established three-tiered transfer pricing documentation in accordance with the OECD under the base erosion and profit shifting
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
See MoreHungary: New transfer pricing Decree on Transfer Pricing Documentation rules
On 18 October 2017, the Hungarian Ministry of National Economy (NGM) issued a decree on new Transfer Pricing Documentation rules. According to the provisions of the Decree, a group is required to prepare a master file and a local file from fiscal
See MoreSweden updates guidance on CbC reporting
The Swedish tax agency has updated their tax returns and reporting guidance on country-by-country (CbC) reporting requirements on 19 October 2017. The update provides some additional clarifications based on questions that have been received by the
See MoreIndia: CBDT publishes rules for CbC reporting and Master File rule
On 1 November 2017, the Central Board of Direct Taxes (CBDT) has notified rules in respect of Country-by-Country reporting and furnishing of Master File. The significant features of the Country-By-Country Report and Master File rules are: The
See MoreBulgaria: NRA approves CbC reporting format and process
The Executive Director of the National Revenue Agency (NRA) approved the country by country reporting format and procedures on October 31, 2017, by Order No. ЗЦУ-1410. According to NRA, the ultimate parent entity, who is a resident for tax
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