The Russian Finance Ministry has issued a draft law regarding the introduction of country-by-country (CbC) reporting in Russia on 8 April 2016. The CbC reporting requirements would apply only to international groups whose aggregate revenue according to consolidated financial statements for the financial year immediately preceding the financial year for which a CbC report is submitted exceeds 50 billion rubles. The CbC reporting requirements would apply to financial years commencing from 1 January 2017.
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