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Article 91 of the Icelandic Income Tax Act No. 90/2003
Article 91 of the Icelandic Income Tax Act No. 90/2003 establishes the rules for determining the tax residency of legal entities in Iceland. Specifically: Legal entities are considered tax resident in Iceland if their home is in Iceland according to their statutes, or if their real management is located in Iceland. The Director of Internal…
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Country-by-Country Reporting (CbCR) Regulation in Iceland: smart guide
Country-by-Country Reporting (CbCR) is a crucial aspect of international tax compliance for multinational enterprises (MNEs). In Iceland, the Directorate of Internal Revenue (Ríkisskattstjóri, RSK) has implemented specific guidelines aligned with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. This article provides Chief Financial Officers (CFOs) and financial executives with a comprehensive understanding of…
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Ordinance on Country-by-Country Reporting (CbCR-Ordinance) in Switzerland
The Ordinance on Country-by-Country Reporting (CbCR-Ordinance) in Switzerland is part of the legal framework implemented to comply with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. The ordinance, known as ACREO, was introduced on 1 December 2017, and it came into effect for the first time for tax years starting from 1 January…
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Country-by-Country Reporting (CbCR) Regulation in Switzerland
Country-by-Country Reporting (CbCR) is a critical component of international tax compliance for multinational enterprises (MNEs). In Switzerland, the Federal Tax Administration (FTA) has implemented specific guidelines aligned with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. This article provides Chief Financial Officers (CFOs) and financial executives with a comprehensive understanding of the CbCR…
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Federal Law No. 340-FZ of 27 November 2017 (Russia)
The key points regarding Federal Law No. 340-FZ of 27 November 2017 in Russia are: The law requires members of multinational enterprise (MNE) groups with annual consolidated group revenue over RUB 50 billion to file a Country-by-Country (CbC) Report, global documentation (Master File), and national documentation (Local File), as well as a notification on their…
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Country-by-Country Reporting (CbCR) Regulation in Russia: A Comprehensive Guide
Country-by-Country Reporting (CbCR) is a vital component of international tax compliance for multinational enterprises (MNEs). In Russia, the Federal Tax Service (FTS) has implemented specific guidelines aligned with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. This article provides Chief Financial Officers (CFOs) and financial executives with a comprehensive understanding of the CbCR…
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How can I automate the data extraction process for the CbC report
Here are the key steps to automate the data extraction process for the Country-by-Country (CbC) report: Automated Data Extraction Extract Data Directly from ERP Systems Develop scripts or utilize data integration tools to automatically extract the relevant tax data directly from the company’s ERP systems This includes data on sales, income, profits, taxes, employees, and…
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Bundeszentralamt für Steuern CbCR Guidance (Germany)
Here is a concise summary of the key details on completing and filing the Country-by-Country (CbC) report in Germany: Completing the CbC Report Sales and other income from transactions with affiliated and unaffiliated businesses Total sales and income Profit (loss) before tax Income tax paid and accrued Number of employees Tangible assets A list of…
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Country-by-Country Reporting (CbCR) Regulation in Germany: A Comprehensive Guide
Country-by-Country Reporting (CbCR) is a fundamental aspect of international tax compliance for multinational enterprises (MNEs). In Germany, the Federal Central Tax Office (Bundeszentralamt für Steuern, BZSt) has implemented specific guidelines in accordance with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. This article provides Chief Financial Officers (CFOs) and financial executives with a…
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Country by Country declaration in France
Article 223 quinquies C of the General Tax Code (CGI) introduced a country-by-country reporting of economic, accounting, and tax results that must be filed electronically by certain companies to combat tax avoidance and evasion. The introduction of this new reporting requirement (form 2258-SD) is part of the international project to combat the erosion of corporate…
CbC Reporting
Country-by-Country Reporting requirements, solutions, FAQs and general info.
