The introduction of Country-by-Country (CbC) reporting is set out in a draft law and will apply for multinational groups from 2016 onwards.
This mechanism is an important instrument in the fight of the European Union and the Organisation for Economic Cooperation and Development against tax fraud, tax avoidance and aggressive tax planning.
The National Revenue Agency will automatically exchange the CbC reports submitted by entities with the other EU Member States and with other jurisdictions with which Bulgaria has signed a special international agreement.
In this regard, KPMG has prepared a special analysis which will help you to get ready and find out more about:
The KPMG team in Bulgaria can offer assistance at every stage of preparation for CbC reporting and we would be
happy to discuss the questions you are interested in.