The Norwegian Ministry of Finance has reportedly launched a public consultation on the introduction of Country-by-Country (CbC) reporting requirements. The Proposed requirements are in line with the guidelines developed as part of Action 13 of the OECD BEPS Project.
As proposed, the CbC reporting requirement would apply to Norwegian companies that are part of an MNE group with consolidated annual revenue of NOK 6.5 billion (~USD 725 million). If the ultimate parent entity of the group is resident in Norway, it would be required to file the CbC report. If the ultimate parent entity is not resident in Norway, a local Norwegian subsidiary would be required to file if:
The requirements would apply for tax years beginning on or after 1 January 2016. Additional details will be published once available.
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