The UK Treasury has laid before parliament amending regulations to the Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) Regulations 2016 for the implementation of obligations under Council Directive 2011/16/EU on administrative cooperation in the field of taxation (as amended by Council Directive (EU) 2016/881), as well as the latest OECD guidance on CbC reporting. The main changes include:
- Extending the original statutory requirements to submit a CbC report to partner…