A revised version of the draft directive for the exchange of Country-by-Country (CbC) reports as approved by the EU's Economic and Financial Affairs Council (ECOFIN) on 8 March 2016 has recently become available. The key changes in the revised draft, summarized below, would generally only affect MNE groups with non-EU ultimate parents.
CbC Filing Deferral Option
The revised draft includes the option for EU Member States to defer the filing obligation of resident constituent entities for on…