United Arab Emirates Ministry of Finance reportedly held a workshop on 28 October 2019 to clarify certain aspects of the UAE's Country-by-Country (CbC) reporting requirements, which apply for reporting fiscal years beginning on or after 1 January 2019 ({News-2019-07-24/A/7-previous coverage}). Some of the key points include:
- MNE groups with ultimate parent entities in the UAE are required to submit CbC reports;
- The UAE is currently a non-reciprocal jurisdiction, meaning it will exchange CbC …