Italy: Implementing guidelines for CbC reports | KPMG | GLOBAL

Italy: Implementing guidelines for country-by-country reports

Italy: Implementing guidelines for CbC reports

The Italian tax agency on 28 November 2017 issued guidance (no. 275956) that sets forth guidelines for implementing country-by-country (CbC) reporting in Italy.

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The implementing guidelines provide rules concerning:

  • Which entities must file a CbC report—companies and entities of a multinational enterprise (MNE) group with consolidated turnover of €750 million or more per year starting from 1 January 2015 
  • The information to be included in the CbC report (information that follows a list of items under three tables)
  • The language for the CbC report (both Italian and English) and amounts are to be expressed in the currency used by the reporting entity in its financial statements
  • Electronic filing requirements for the CbC report
  • The deadline for filing the CbC report (as a general rule, within 12 months of the MNE group’s year-end, but for the first year, by 31 December 2017 if the MNE group’s tax year started on or after 1 January 2016 and ended before 31 December 2016)

 

Read a December 2017 report [PDF 165 KB] prepared by the KPMG member firm in Italy

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