25 September 2018

Cyprus issues announcement on Country-by-Country Reporting obligations related to CbCR exchange relationships

The Cypriot Tax Department issued an announcement on September 19, regarding Country-by-Country Reporting (CbCR) obligations related to CbCR exchange relationships. Constituent entities with a Cypriot Ultimate Parent Entity (UPE) will not be subject to local filing in their jurisdiction of tax residency, provided the relevant CbC Multilateral Competent Authority Agreement (MCAA) is activated between Cyprus and the other jurisdiction.

A Global Tax Alert, attached below, provides additional details.

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ATTACHMENT

Full text of this Tax Alert

Document ID: 2018-1884