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Section 233.8 of the Income Tax Act (Canada)
Section 233.8 of the Income Tax Act in Canada pertains to Country-by-Country (CbC) reporting requirements for multinational enterprise (MNE) groups. Here are the key aspects of this section: Definitions The section begins by defining important terms: Reporting Obligations The reporting requirements under this section apply to: Purpose and Use of CbC Reports The CbC reports…
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Country-by-Country Reporting (CbCR) Regulation in Canada
Canada’s Country-by-Country Reporting (CbCR) requirements are aligned with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13 framework. The legislation, overseen by the Canada Revenue Agency (CRA), mandates multinational enterprises (MNEs) with significant operations in Canada to provide transparent financial information. This guide details the requirements and implications of Canada’s CbCR rules, including applicability,…
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The strategic importance of large sales in company growth and its sustainability
Large sales play a vital role in the growth, stability, and long-term success of a company. While regular, smaller sales are essential for sustaining cash flow, major sales and high-value deals can be transformative. They not only generate significant revenue but also boost a company’s market position, create opportunities for operational expansion, and foster customer…
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Country-by-Country Regulation in Belgium
Belgium has implemented the Country-by-Country Reporting (CbCR) requirements in line with the OECD’s BEPS Action Plan, specifically following Action 13 on transfer pricing documentation. The regulation is enforced by the Belgian Federal Public Service (FPS) Finance, which oversees MNE compliance with CbCR obligations. This guide provides finance directors of multinational enterprises (MNEs) operating in Belgium…
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SAT Bulletin [42/2016] (China)
SAT Bulletin [2016] No. 42, issued by China’s State Administration of Taxation (SAT) on June 29, 2016, introduced significant changes to China’s transfer pricing compliance requirements. Here are the key aspects of this bulletin: New Documentation Framework Bulletin 42 established a three-tiered documentation structure, aligning with the OECD’s BEPS Action 13 recommendations: This replaced the…
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What is ADE COCAD No. 9/2017 (Brazil)
ADE COCAD No. 9/2017 is an important regulation in Brazil related to the disclosure of beneficial ownership information. Here are the key points about this regulation: Purpose and Scope ADE COCAD No. 9/2017 (Executive Declaratory Act – Registration Management General Coordination) was published on October 23, 2017, in Brazil’s Official Gazette. It establishes rules for…
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What is Normative Instruction (IN) No. 1,681 (Brazil)
Normative Instruction (IN) No. 1,681, issued on December 28, 2016 by the Brazilian Federal Revenue Service, established the rules for Country-by-Country (CbC) reporting in Brazil. This instruction implemented Action 13 of the OECD’s Base Erosion and Profit Shifting (BEPS) Project, which aims to enhance transparency in international taxation. Key Aspects of IN 1,681/2016 Reporting Obligation…
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The importance of building a high-quality, extensive mailing list for businesses
In the world of digital marketing, building a mailing list is one of the most effective and essential strategies for businesses of all sizes. A well-curated and expansive mailing list allows companies to maintain direct communication with their customers, foster brand loyalty, and drive sales. In this article, we will discuss why building a high-quality,…
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Create and Grow Law
The Crea y Crece Law is an important legislative reform approved in Spain in September 2022, aimed at promoting the creation and growth of businesses, particularly small and medium-sized enterprises (SMEs). Here are its main features: Main Objectives Key Measures Simplified Business Creation Combatting Payment Delays Reducing Administrative Barriers Boosting Alternative Financing Mandatory Electronic Invoicing Effective Date…
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Spain’s Anti-Fraud Law
Spain’s Anti-Fraud Law, officially known as Law 11/2021 on measures to prevent and combat tax fraud aims to: Changes to Cash Payments The law introduces new limits on cash payments: Billing Software Requirements One of the most significant aspects of the law is the regulation of billing software: Requirements for Billing Software Billing programs must…
CbC Reporting
Country-by-Country Reporting requirements, solutions, FAQs and general info.
CbC Reporting 