France: CbC reporting notification and filing obligation
The country reporting (CbC) obligation in France contains a notification according to which French companies subject to the notification obligation are required to mention in their annual corporation tax returns, whether they will be submitting the
See MoreColombia: DIAN clarifies TP filing obligations under BEPS Action 13
On 3 May 2017, the Colombian Tax Authority (DIAN) clarified the fiscal years for which the new transfer pricing obligations established in Article 108 of Law 1819 of 2016 will apply. According to Law 1819, taxpayers have to file a local file, master
See MoreRussia: Publishes the draft law on CbC reporting requirements for multinationals corporate groups
The Russian government on 6 March 2017, published an amended draft law providing for new provisions on the international automatic exchange of financial accounting information for the Russian fiscal regulation and for setting new standards for the
See MoreCroatia: CbC reporting requirements implemented
The BEPS Action 13 (Transfer Pricing Documentation and Country-by-Country Reporting) has now been fully implemented in Croatia, with the full legal framework in place. The Croatian Tax Office published the CbC reporting requirements in late March
See MoreAustralia publishes CbC reporting, Local and Master files detailed design
The Australian Taxation Office (ATO) has published a Local file / Master file detailed design to serve as guidance for taxpayers regarding the practicalities in completing country-by-country (CbC) reporting by significant global entities. ATO has
See MoreNetherlands: Parliament adopted new Bill on CbC reporting requirement
The Dutch lower house of Parliament adopted the Bill No.34651 to implement country-by-country (CbC) reporting on April 18, 2017. The bill allowed a group entity to serve as the reporting entity and a designated Dutch group entity to file an
See MoreCzech Republic: Proposed requirements for preparing CbC report
On 2nd of August 2016, the Finance Ministry published a public consultation on a bill. This would implement the country-by-country (CbC) reporting requirements in EU Directive 2016/881 on exchange of CbC reports among EU member states. In
See MorePoland: President signs new legislation on CbC reporting requirement
The new legislation regarding the exchange of tax information with other countries was signed by the President on 20 March 2017. The Law provides information on obligations of financial institutions and the automatic exchange of country-by-country
See MoreCyprus: Tax department announced the decree for the automatic exchange of CbC reports
With reference to decree issued by the Ministry of Finance on 30 December 2016, the tax department of Cyprus has recently published an announcement regarding that decree for the automatic exchange of country by country reports. The deadline for
See MoreMexico publishes final report for country-by-country reporting
Mexico’s Taxpayer Office published a final report regarding master file, local file and country-by-country (CbC) report under Article 76-A of the Income Tax Law on April 3, 2017. These documentation requirements became effective on January 1,
See MoreUK: Amendments to CbC reporting 2017
The United Kingdom was one of the first countries to formally commit to introducing CbC reporting and the detailed implementation was given effect through the 2016 Regulations. Since the UK introduced these regulations in February 2016, the
See MorePoland: Important tax changes for 2017
A number of major tax changes have been introduced as of 1 January 2017. The changes are given below: Personal income tax: Personal income tax has a major change on the tax-free amount that is based on the tax base. In accordance with the new
See MoreBulgaria: Proposed bill about CbC reporting requirements published
The Finance Ministry has published a revised draft bill on 21st March 2017 that amends the Tax and Social Security Procedure Code (TSSPC) with regard to the new country-by-country (CbC) reporting requirements. It is proposed that the amendments will
See MoreIceland updates regulation on CbC reporting
The Ministry of Finance and Economic Affairs issued Regulation No. 245/2017 amending Regulation No. 1166/2016 regarding country-by-country (CbC) reporting on 24 March 2017. The amendment aligns the wording of article 4 of the model provision related
See MoreNetherlands amendments to bill on country-by-country reporting
The State Secretary for Finance has submitted an amended bill to the lower house of the parliament regarding country-by-country reporting on 21 March 2017. The bill implementing Council Directive (EU) 2016/881 of 25 May 2016 amending Directive
See MoreItaly-Ministerial Decree implementing Country-by-Country Reporting issued
The Italian Ministry of Finance issued a Decree on 8 March 2017 providing detailed information regarding the application of CbC reporting rules. The Decree is in accordance with an EU Directive of 25 May 2016 requiring all EU Member States to
See MoreVietnam: Recently released a new transfer pricing decree
Vietnam’s Government has recently released a Transfer Pricing (“TP”) Decree No. 20/2017/ND-CP on 24 February 2017, provided that tax administration applicable to enterprises having controlled transactions’ (Decree 20), which will take effect
See MoreSweden publishes regulation on automatic exchange of CbC reporting
The regulation on the automatic exchange of country-by-country (CbC) reporting (the Regulation) was published in the Official Gazette on 14 March 2017. The law proposal had been adopted on 1st March 2017. The Regulation, which will enter into force
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