On 27 December 2016, Iceland published the Country-by-Country (CbC) reporting Regulation No. 1166. The CbC reporting requirements were introduced in the legislation on government actions against tax evasion ({News-2016-10-19/A/2- previous coverage}), with the regulation providing additional details of the requirements, including:
- The CbC reporting requirement applies for MNE groups operating in Iceland meeting an ISK 100 billion (~USD 875 million) consolidated annual revenue threshold;
- The s…