Tax & Accounting Blog

Denmark Issues Guidance on Submitting Country-by-Country Reports

Denmark Issues Guidance on Submitting Country-by-Country Reports

On December 21, 2017, Denmark’s tax authorities (SKAT) issued a press release on country-by-country (CbC) reporting. See BEPS Action 13. Danish companies (ultimate parent or surrogate parent) that form part of a multinational group with a consolidated turnover of at least 5.6 billion kr. in the previous income year must submit … Read More

U.S. Congress Releases Joint Report on Tax Cuts and Jobs Act

U.S. Congress Releases Joint Report on Tax Cuts and Jobs Act

On December 15, 2017, the U.S. Congress released the Conference Report on the Tax Cuts and Jobs Act, as well as a Joint Explanatory Statement. The summary below highlights several of the international tax provisions addressed by the Conference Committee. Deduction for foreign-source portion of dividends received … Read More

Portugal Approves Country-by-Country Notification Form

Portugal Approves Country-by-Country Notification Form

On December 11, 2017, the Portuguese government issued Order 367/2017 approving the model declaration, “Communication of the Identification of the Declarant Entity – Financial and Tax Declaration by Country” (Model 54), under Article 121-A(4) of the Income Tax Code (ITC). The declaration, which represents a notification for … Read More

France Announces Transitional Measure on Country-by-Country Reporting

France Announces Transitional Measure on Country-by-Country Reporting

On December 4, 2017, France announced a transitional measure on CbC reporting. If a parent company located in a jurisdiction that does not have a CbC exchange agreement with France voluntarily submits a CbC report for a financial year beginning on January 1, 2016, and the CbC report is transmitted by … Read More