Tag: India
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Rule 10DB for CbCR (India)
The Income-tax Rules, 1962, specifically Rule 10DB, in India, provides the requirements and procedures for filing the Country-by-Country Report (CbCR). Here are the key points: These rules are in line with the OECD Action Plan 13 recommendations and aim to enhance transparency and cooperation among countries in the fight against base erosion and profit shifting…
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Country-by-Country Reporting (CbCR) Regulation in India: A Comprehensive Guide
Country-by-Country Reporting (CbCR) is an essential aspect of international tax compliance for multinational enterprises (MNEs). In India, the Central Board of Direct Taxes (CBDT) 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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How CbC reporting is presented in India
Country-by-country reporting (CbC) is a financial report that multinational corporations must submit in many countries as part of a global initiative to combat tax evasion and tax avoidance. In India, the CbC reporting requirement was introduced through the Finance Act, 2016 and is applicable to multinational companies with consolidated group revenue of more than INR…
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CbC Report in India
In keeping with India’s commitment to implement the recommendations of 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by- Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, section 286 of the Income-tax Act, 1961 (‘the Act’) was inserted vide Finance Act, 2016, providing for furnishing of a…
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CBDT notifies rules in respect of Country-by-Country reporting and furnishing of Master File in India
In keeping with India’s commitment to implement the recommendations of 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-Country Reporting”, identified under the OECD Base Erosion and Profit Shifting (BEPS) Project, section 286 of the Income-tax Act, 1961 (‘the Act’) was inserted vide Finance Act, 2016, providing for furnishing of a Country-by-Country…
CbC Reporting 