CBDT releases guidance on appropriate use of CbC Reports – Rakesh Nangia
The Central Board of Direct Taxes (CBDT), India has proactively issued guidelines vide Instruction No. 2/2018 dated June 27, 2018 to clarify for various stakeholders on the purpose of filing the Country-by-Country Reports, appropriate use of the information by the Tax Authorities, ways to ensure confidentiality of sensitive company information received therein and ways to monitor, control and review the process to prevent any abuse to the detriment of the international group of the same.
Rakesh Nangia, Managing Partner shares his views on aforementioned development for Taxsutra.
(with inputs from Nitin Narang, Partner- Transfer Pricing)
