On 12 July 2019, the Ministry of Finance and Economic Affairs has opened a public consultation on draft CbC reporting regulations. The draft regulation includes the measures outlining the income, taxes, and economic activities of multinational groups. Under this a domestic parent company will be exempted from submitting CbC reporting if group’s total revenue is less than 750 million euros (US$844.5 million) for the previous tax year. The regulations do not change the CbC reporting requirements but rather serve to clarify and confirm the requirements, in line with international standards. The deadline for comments on the draft regulations is 12 August 2019.
France issues new guidelines for GAAR
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