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Cyprus, United States To Begin Exchanging CbC Reports

Cyprus has in fact disclosed that a plan on the exchange of country-by-country documents in between the location as well as additionally the United States is expected to wind up being effective along with cover coverage years starting on or after January 1, 2020.

2nd stating of CbC documents in Cyprus will absolutely as a result be vital for reporting years starting on or after January 1, 2019, along with before January 1, 2020.

On the duty to notify the Cypriot authorities of which entity will absolutely send a document, the Cyprus tax commitment authority asserted: “Where signals for reporting start
on or after January 1, 2019, as well as likewise before January 1, 2020, have in fact been sent in
Cyprus by Cypriot Constituent Entities of MNE Groups which are influenced by
this declaration, such notifications ought to be changed (if required) in
consistency with this information. If such notifications are transformed by December 31, 2020, on the house will absolutely be imposed for the Reporting Fiscal Year start on or after January 1, 2019, along with before January 1, 2020.”

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