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Country-by-country reports
March 19 , 2019
1888 days
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- India and the US can now exchange country-by-country (CbC) reports filed by the parent corporations based in either of the countries.
- The Income-tax Act requires Indian subsidiaries of multinational companies to provide details of key financial statements from other jurisdictions where they operate.
- This provides the I-T Department with better operational view of such companies.
- The provision was a part of the Base Erosion and Profit Shifting (BEPS) action plan.
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