Do not neglect new CbCR obligation


On 19 September, 2017, an amendment of International Co-operation Act introducing the obligation of Country by Country Reporting has been published in the Code of Law. Till 31 October, all Czech entities which are members (namely a parent or representing member firms) of global company groups with a consolidated turnover exceeding EUR 750m are to submit a “Report” in accordance with the amendment. Last week, the long-awaited forms which are to be used to meet the obligation have been published by the General Financial Administration, and the reports may only be filed in an electronic form that are available at  EPO application on the Specialized Financial Office website.

Should you require assistance with compilation or submission of the Report, do not hesitate to contact us.