On 13 July 2016, the German Federal Cabinet (Bundeskabinett) approved the draft legislation for the implementation of Country-by-Country (CbC) reporting requirements and other BEPS-related measures ({News-2016-06-03/P/2- previous coverage}). The legislation will now be sent to parliament for approval. Once approved and in force, the legislation will generally apply from 1 January 2017, although CbC reporting for German MNE groups will apply from 1 January 2016.
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