Category: CbC
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Country-by-Country Reporting (CbCR) Regulation in Latvia
Latvia’s adoption of the Country-by-Country Reporting framework reflects its commitment to enhancing global tax transparency and combating base erosion and profit shifting. Multinational enterprises that meet the revenue threshold must ensure they comply with the CbCR requirements by submitting timely and accurate reports. Non-compliance can result in significant penalties, making it essential for MNEs to…
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Country-by-Country Reporting (CbCR) Regulation in Kenya
Kenya has demonstrated a commitment to aligning its tax framework with international standards, including the OECD’s Base Erosion and Profit Shifting (BEPS) initiative, particularly BEPS Action 13, which focuses on Country-by-Country Reporting (CbCR). The Kenyan government, through its tax authority, the Kenya Revenue Authority (KRA), has implemented CbCR requirements to ensure transparency and fairness in…
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Country-by-Country Reporting (CbCR) Regulation in Hungary
Hungary, as an active member of the European Union and the Organisation for Economic Co-operation and Development (OECD), has adopted the OECD’s Country-by-Country Reporting (CbCR) framework under BEPS (Base Erosion and Profit Shifting) Action 13. This guide provides Chief Financial Officers (CFOs) and financial executives in Hungary with an overview of CbCR requirements, detailing how…
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Country-by-Country Reporting (CbCR) Regulation in Haiti
Currently, Haiti does not have formal Country-by-Country Reporting requirements for multinational enterprises. However, MNEs with operations in Haiti should continue to monitor potential changes to the country’s tax legislation and ensure compliance with existing tax regulations. It is crucial for MNEs to stay informed about any updates that may introduce CbCR obligations in the future,…
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Country-by-Country Reporting (CbCR) Regulation in Guernsey
Ad Guernsey, as an international financial centre, has committed to international tax transparency and aligned its tax laws with the OECD’s Base Erosion and Profit Shifting (BEPS) framework, specifically Action 13 on Country-by-Country Reporting (CbCR). This guide is designed for Chief Financial Officers (CFOs) and financial executives of multinational enterprises (MNEs) in Guernsey to understand…
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Country-by-Country Reporting (CbCR) Regulation in the Czech Republic
The Czech Republic, as a member of the European Union and a participant in the OECD’s Base Erosion and Profit Shifting (BEPS) initiative, has implemented the Country-by-Country Reporting (CbCR) obligations under BEPS Action 13. These regulations are designed to provide tax authorities with a comprehensive view of the global allocation of income, taxes, and business…
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Country-by-Country Reporting (CbCR) Regulation in Cyprus
Cyprus, as a member of the European Union and a jurisdiction committed to international tax transparency, has adopted the OECD’s Base Erosion and Profit Shifting (BEPS) framework, including Action 13 on Country-by-Country Reporting (CbCR). This guide provides a comprehensive overview for Chief Financial Officers (CFOs) and financial executives operating in Cyprus regarding CbCR obligations. It…
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Country-by-Country Reporting (CbCR) Regulation in Curaçao
Curaçao, as a growing international financial centre, has aligned its tax policies with international transparency standards, including the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13 on Country-by-Country Reporting (CbCR). This article provides Chief Financial Officers (CFOs) and financial executives operating in Curaçao with a clear understanding of the CbCR requirements, including applicability, reporting…
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Global minimum corporate income tax
In December 2021, the Organisation for Economic Co-operation and Development (OECD) published the document Tax Challenges Arising from the Digitalisation of the Economy – Global Anti-Base Erosion Model Rules (Pillar Two) (hereinafter: OECD Model Rules). The OECD Model Rules are contained in Council Directive (EU) 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for…
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Country-by-Country Reporting (CbCR) Regulation in Croatia
Croatia, as an EU member state and a signatory to the OECD’s Base Erosion and Profit Shifting (BEPS) framework, has adopted the Country-by-Country Reporting (CbCR) requirements under BEPS Action 13. These rules are designed to enhance transparency and provide tax authorities with comprehensive information about the operations of multinational enterprises (MNEs). This article offers Chief…
