https://www.taxtmi.com/news?id=21217 Subsection (4) of Section 286 imposes a local Country-by-Country (CbC) reporting obligation where the parent entity's jurisdiction lacks filing or exchange arrangements or has a systemic failure; amendments prescribe a twelve month furnishing period and a one time extension was granted. A Bilateral Competent Authority Arrangement and Inter Governmental Agreement with the United States will enable automatic exchange of CbC Reports filed by ultimate parent entities, relieving Indian constituent entities of duplicate local filing where the parent has filed in the United States. en-us Fri, 15 Mar 2019 16:25:22 +0530 Fri, 15 Mar 2019 16:25:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21217 Subsection (4) of Section 286 imposes a local Country-by-Country (CbC) reporting obligation where the parent entity's jurisdiction lacks filing or exchange arrangements or has a systemic failure; amendments prescribe a twelve month furnishing period and a one time extension was granted. A Bilateral Competent Authority Arrangement and Inter Governmental Agreement with the United States will enable automatic exchange of CbC Reports filed by ultimate parent entities, relieving Indian constituent entities of duplicate local filing where the parent has filed in the United States. News - Fri, 15 Mar 2019 16:25:22 +0530 https://www.taxtmi.com/news?id=21217