Malaysia: Country-by-country reporting guidance | KPMG | GLOBAL

Malaysia: Country-by-country reporting guidance

Malaysia: Country-by-country reporting guidance

The Inland Revenue Board (IRB) issued guidance for implementing and complying with the country-by-country (CbC) reporting requirements. The IRB guidance includes instructions, templates and notification letter samples for reporting and non-reporting entity.

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The Income Tax (Country-by-Country Reporting) Rules 2016 is effective from 1 January 2017 and applies to Malaysian-parented multinational corporation (MNC) Groups with a total consolidated group revenue of at least Malaysian Ringgit (RM) 3 billion in the financial year preceding the reporting financial year. 

There is a requirement for MNC groups to notify the tax authorities as to which entity will be the CbC reporting entity, on or before 31 December 2017.

 

Read an October 2017 report [PDF 330 KB] prepared by the KPMG member firm in Malaysia

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