Parliament approved Bill No. 787 (the Bill) implementing BEPS Actions 4, 7 and 13 on 13 October 2016. Details of the Bill are given below.
Bill No. 787 adopted by the parliament proposes a fixed ratio rule, limiting corporate tax deductions for net interest expense to 30% of a group’s EBITDA with some exceptions.
BEPS related compliance:
Bill No. 787 adopted by the parliament proposes implementation of country-by-country (CbC) reporting. The Bill does not include a description of what the CbC report should contain. This will be put forward in a regulation by the Minister of Finance and Economic Affairs following the implementation of the Bill into domestic legislation.
