The parliament has approved Law No. 667946-6 on 27th March 2015 for extending the deadline of tax resident’s notification about the involvements held in controlled foreign companies (CFCs). The deadline for notification has been extended from 1st April 2015 to 15th June 2015. According to this law, tax residents are compelled to inform the tax authorities about their involvements held in CFCs from 15th May 2015 instead of 1st January 2015. If the CFC is discharged or the shares were sold within the period from 1st January 2015 to 14th June 2015, then they are not obliged to inform about their participations held in CFCs.
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