23 December 2016 Finland implements Country-by-Country Reporting in accordance with BEPS Action 13 During November 2016, the Finnish Parliament passed a bill (HE 142/2016), amending the Finnish transfer pricing reporting requirements by implementing the changes proposed in the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) Action 13 final report, Transfer Pricing Documentation and Country-by-Country Reporting. The bill expands the transfer pricing documentation requirements by introducing an obligation to submit both a master file and a local file, as well as the implementation of country-by-country reporting (CbCR) requirements as required by the European Union (EU) Directive 2016/881. The changes regarding submission of the master file and local file will apply to accounting periods beginning on or after January 1, 2017, while the CbCR is mandatory for accounting periods beginning on or after January 1, 2016. Document ID: 2016-2217 |
