CbC report format

(1) The ultimate parent entity of an MNE group under section 8C of the Act, in respect of its first reporting financial year and every subsequent reporting year, shall file the CbC report in the format as set out in Schedule 1. (2) The CbC report shall be submitted electronically to the competent authority in accordance with the OECD’s Extensible Markup Language. (3) The competent authority shall develop an information technology system to collect and exchange the CbC report. (4) A CbC report which is made otherwise than in accordance with this regulation shall be treated as not having been made.