The Norwegian parliament has reportedly approved legislation for the introduction of Country-by-Country (CbC) reporting requirements based on BEPS Action 13 guidance. Key aspects of the requirements are summarized as follows:
Note - The secondary reporting requirement for a non-parent entity to file locally will apply for fiscal years beginning on or after 1 January 2017. It is expected, however, that this deferral does not apply for the notification requirement, i.e., the first notification will still be due 31 May 2017.
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