Inland Revenue Department (IRD) issued new guidance regarding the Country-by-Country Reporting (CbCR) and CbCR notification requirements, introducing significant changes in the compliance obligations for affected taxpayers. The new guidance includes, among others, an extension for the filing of the CbCR notification; and a
significant change relating to the threshold for CbCR purposes, which is in line with the threshold recommended by the Organisation for Economic Co-operation and Development (OECD).
This Alert summarizes the key provisions of the new guidance
