Tax & Accounting Blog

Portugal Extends Deadline for Country-by-Country Reporting Notifications

Portugal Extends Deadline for Country-by-Country Reporting Notifications

On December 12, 2016, the Portuguese State Secretary for Fiscal Affairs, Fernando Rocha Andrade, issued Order No.254/2016XXI, extending the deadline for country-by-country (“CbC”) reporting notifications for fiscal year 2016 to May 31, 2017. Under Portugal’s CbC reporting requirements, the group must provide electronically the identity and tax residence of the reporting entity to … Read More

French Constitutional Council Declares Public Country-by-Country Reporting Unconstitutional

French Constitutional Council Declares Public Country-by-Country Reporting Unconstitutional

On December 8, 2016, the French Constitutional Council (“Council”) issued Decision No. 2016-741 DC, which held that specific provisions of Article 137 of the law on transparency, the fight against corruption and the modernization of the economy ("Law No. 830") (i.e., public country-by-country reporting (CbCR)) are unconstitutional. See the corresponding Read More

Indonesia to prioritize Free Trade Agreement with European Union (EU)

Indonesia to prioritize Free Trade Agreement with European Union (EU)

The cooperation between participating countries within the Indonesia-European Union (EU) Comprehensive Economic Partnership Agreement (CEPA) was designed to enhance the economic cooperation between Indonesia and the countries that are members of the EU. It is of recent that the Indonesian government is realizing just how important the impact of the free trade agreement with the … Read More

Global Trade Trends: Regional Variances in Trade Operations

Global Trade Trends: Regional Variances in Trade Operations

Companies can exert little control over the macro conditions that impact trade, but they can use today’s low-growth trade environment as an opportunity to review and optimize their processes. Through the first nine months of 2016, net U.S. trade fell $470 billion, according to the Census Department. Although GDP growth might not be as robust … Read More

Norway Implements Country-by-Country Reporting Requirements

Norway Implements Country-by-Country Reporting Requirements

Following approval by the Norwegian parliament, on December 2, 2016, Norway amended the Tax Administration Act with the addition of a new § 4-13, implementing country-by-country (CbC) reporting. See BEPS Action 13. Under the new legislation, a parent company domiciled in Norway with enterprises abroad is required to submit, … Read More