Bermuda has published CbC Guidance Notes v.2.1 (July 2018), which provides an overview of the Country-by-Country (CbC) reporting requirements and guidance on technical issues. The main change in the latest version is clarification that the secondary reporting mechanism which requires a Constituent Entity of an MNE Group, that is neither an Ultimate Parent Entity nor a Surrogate Parent Entity, to file a CbC Report in certain circumstances does not apply in Bermuda.