Brazil's Federal Revenue Department (RFB) has launched a public consultation on a draft normative instruction for Country-by-Country (CbC) reporting requirements. The draft requirements are generally in line with BEPS Action 13 and are to apply for fiscal years beginning on or after 1 January 2016. The main aspects of the requirements include:
- A reporting threshold of BRL 2.26 billion or EUR 750 million group revenue in the previous year (or EUR 750 million equivalent as of 31 Jan 2015);
- A p…