According to recent reports, Gibraltar has enacted the Income Tax Act 2010 (Amendment) Regulations 2017 to transpose into domestic law the amendments made to the EU Directive on administrative cooperation in the field of taxation (2011/16/EU) concerning the exchange of Country-by-Country (CbC) reports (Council Directive (EU) 2016/881). As per the Directive, standard CbC reporting rules apply, including:
- A EUR 750 million group revenue threshold;
- The requirement for ultimate parent entities r…