Sweden 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
See MoreIndia: CBDT publishes the Final Rules for CbC reporting and the furnishing of the master file
On 31 October 2017, the Central Board of Direct Taxes (CBDT) published the Final Rules for country by country (CbC) reporting and the furnishing of the master file. The Final Rule contain a few administrative changes and clarifications. However, the
See MorePoland: Decree on information regarding transfer pricing documentation
A decree on information to be included in statutory transfer pricing documentation concerning taxpayer transactions with related parties entered into force on 3 October 2017. It lays down a detailed content that must be included in the transfer
See MoreSwitzerland: Automatic Exchange of country-by-country reports enters into force
On 18th October 2017 during its meeting, the Federal Council decided to bring a law on the International Automatic Exchange of Country-by-Country Reports of Multinationals into force on 1st December 2017. Under the new law, CbC reporting obligations
See MoreIndia extends due date for filing of CbC report for the accounting year 2016-17 to 31.03.2018
On 25 October 2017, the Central Board of Direct Taxes (CBDT) has issued Circular No. 26/2017 of 25 October 2017 stated that it will extend the due date for multinationals to furnish a country-by-country (CbC) report for the accounting year 2016-17
See MoreSouth Africa: SARS publishes public notice on the submission of CbC report
On 13 October 2017, the South African Revenue Service published the public notice on the submission of Country-by-Country (CbC) report, Master file, and Local file information returns under the external business requirements specification (BRS). A
See MoreHungary: Country-by- country reporting form released
The Hungarian tax authority has published on its website a form (Form 16CBC) that can be used by taxpayers to comply with the reporting requirements for country-by- country (CbC) from 31 May 2017. Under a general rule, the ultimate parent company is
See MoreSingapore: Income Tax (Amendment) Bill 2017 approved
The Income Tax (Amendment) Bill 2017 was approved by the Singaporean lawmakers on 2 October 2017.The amendments to the Income Tax Act comprise of tax changes announced in the 2017 Budget. According to the approved Bill existing corporate income tax
See MoreColombia publishes newly proposed TP regulations
Tax Authorities of Colombia (DIAN) published a proposed transfer pricing (TP) regulations to execute the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) Action 13 and to establish the
See MoreCzech Republic: CbC reporting requirements implementation
The Law No. 305/2017 was published on September 20, 2017 in the official gazette for implementing EU Directive 2016/881 on the exchange of country-by-country (CbC) reporting information among EU member states. The closing date is October 31, 2017
See MoreIndia: CBDT releases CbC reporting and Master file documentation rules for public comment
The Central Board of Direct Taxes (CBDT) published a draft guideline for framing Rules in respect of Country-by-Country reporting and furnishing of master file on 6 October 2017. The comments and suggestions on the draft rules can be submitted by 16
See MoreCyprus: Tax department announces the commencement of CbC reporting notification
On 09 October 2017, the Cyprus Tax Department informed that the submission of notification for country by country reporting for the year 2016 has started. The process will be performed through the Government Gateway Portal ‘Ariadni’. The
See MoreArgentina: General Resolution 4130-E publishes in Official Gazette
The Federal Tax Administration (FTA), on September 20, 2017, published the General Resolution 4130-E in the Official Gazette. It establishes the country-by-country (CbC) guiding framework in Argentina and is applicable to ultimate parent entities of
See MoreMalaysia: IRBM publishes sample notification letters for CbC reporting
The Inland Revenue Board of Malaysia (IBRM) has recently published two different sample notification letters for entities subject to the country-by-country (CbC) reporting notification requirement. Two separate sample notifications letters have been
See MoreNetherlands: Tax plan for 2018
The Dutch government has presented the tax plan for 2018 on 19th September 2017. If adopted, these proposals will be entered into force on 1st January 2018. 2018 tax plan contains various other amendments on a variety of topic and these are given
See MoreLithuania: Approves country-by-country reporting rules
On 31 May 2017, the Lithuanian Tax Administrator has approved (Order No VA–47) the reporting rules for the multinational enterprise also known as country by country (CbC) reporting rules. These rules came into force as of 5 June 2017. Under this
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