Taxpayers that are subject to the country-by-country (CbC) reporting requirements also need to note the rules for identifying the reporting entity for the multinational entity group and the requirement to notify the Director General in writing before the applicable deadline. For some taxpayers, this deadline may be 31 December 2017.
As prescribed in the CbC reporting rules, the deadline to file the CbC reporting notification is on or before the last day of the reporting financial year. For example, for a financial year ending 31 December 2017, the CbC reporting notification must be filed on or before 31 December 2017.
Tax professionals have observed that if the information of the CbC reporting entity is currently available, it may be advisable to file the CbC reporting notification by 31 December 2017, regardless of the reporting financial year of the multinational entity group.
Read a December 2017 report [PDF 122 KB] prepared by the KPMG member firm in Malaysia
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