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Country-by-Country Reporting (CbCR) in the Cayman Islands
The Cayman Islands have implemented legislation requiring Country-by-Country Reporting (CbCR) in line with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. As a significant international financial centre, the Cayman Islands are committed to global tax transparency and have adopted regulations that apply to certain multinational enterprise (MNE) groups. This guide outlines the CbCR…
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Country-by-Country Reporting (CbCR) in Montserrat
As of the latest available information, Montserrat has not introduced formal legislation requiring Country-by-Country Reporting (CbCR) in accordance with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. However, multinational enterprise (MNE) groups with operations in Montserrat may still be impacted indirectly through CbCR obligations in other jurisdictions. This guide provides an overview of…
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Article 76-A of the Mexican Income Tax Law in Mexico
Article 76-A of the Mexican Income Tax Law (Ley del Impuesto sobre la Renta, LISR) outlines specific obligations for taxpayers involved in transactions with related parties. These obligations focus on filing annual informative declarations to ensure compliance with transfer pricing rules and transparency in multinational operations. Below are the key details: Obligations Under Article 76-A Taxpayers…
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Country-by-Country Reporting (CbCR) in Mexico
Mexico has been a proactive adopter of the OECD’s Base Erosion and Profit Shifting (BEPS) framework, including the implementation of Country-by-Country Reporting (CbCR) as part of Action 13. Since 2016, multinational enterprise (MNE) groups operating in Mexico have been required to comply with specific transfer pricing documentation obligations, including CbCR, to improve tax transparency and…
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Leverage AI tools and resources for your business
Artificial Intelligence (AI) is the ability of a computer program or machine to mimic human-like behavior. For example, to mimic visual senses, speech recognition, decision-making, natural language understanding, and so on. It’s not a technology of itself, but rather a goal set by technologists to imitate human intelligence. Generative AI is a subset of AI. AI can…
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Country-by-Country Reporting (CbCR) in Palestine
Palestine has not formally adopted Country-by-Country Reporting (CbCR) regulations aligned with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13 framework. This absence, however, cannot be viewed in isolation from the broader political context: the ongoing Israeli occupation has imposed severe structural limitations on Palestine’s institutional and economic development. The entrenched system of Zionist…
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Country-by-Country Reporting (CbCR) Regulations in Malaysia
Malaysia has adopted Country-by-Country Reporting (CbCR) as part of its commitment to the OECD Base Erosion and Profit Shifting (BEPS) Action 13 initiative. The regulation aims to enhance tax transparency and prevent tax avoidance by multinational enterprises (MNEs). The Inland Revenue Board of Malaysia (IRBM) administers CbCR compliance, requiring certain MNEs to file annual reports…
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Income Tax Act 1959 in Papua New Guinea
The Income Tax Act 1959 is a foundational legislative framework in Papua New Guinea that governs the imposition, assessment, and collection of income tax. Below is an overview of its key features: Key Provisions Legislative Updates Since its introduction in 1959, the Act has undergone numerous amendments to address evolving economic activities and administrative needs. For further…
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Country-by-Country Reporting (CbCR) Regulations in Papua New Guinea
Papua New Guinea has implemented Country-by-Country Reporting (CbCR) in line with the OECD BEPS Action 13 framework. The Internal Revenue Commission (IRC) oversees compliance with these regulations, aimed at enhancing tax transparency and preventing base erosion and profit shifting (BEPS) by multinational enterprises (MNEs). This guide provides chief financial officers and tax professionals with a…
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General Communiqué on Disguised Profit Distribution Through Transfer Pricing (Serial No: 4 & 5) in Turkey
The General Communiqués on Disguised Profit Distribution Through Transfer Pricing (Serial No: 4 and 5) in Turkey introduce significant changes to transfer pricing regulations, aligning them with international standards and providing detailed guidance for taxpayers. General Communiqué No. 4 Published in the Official Gazette on September 1, 2020, Communiqué No. 4 revises the original General…
CbC Reporting
Country-by-Country Reporting requirements, solutions, FAQs and general info.
CbC Reporting 