International Tax, Audit, Accounting and Legal News – Issue 15 (August 2017)

Law 4484/2017: Implementation in domestic legislation of EU Directive 2016/881 concerning mandatory automatic exchange of information by Country by Country Reporting (CbC)

Published in the Official Government Gazette Α’ 110/01.08.2017, Law 4484/2017 which inter alia provides new transfer pricing documentation requirements, introduces in Greek legislation the provisions of EU Directive 2016/881 on mandatory automatic exchange of information by Country by Country Reporting (CbC) in the field of taxation. The new tax requirements follow the guidance provided under Action 13 of the OECD’s Base Erosion and Profit Shifting (BEPS) initiatives. Such reporting enables Greek tax Authorities to perform potential transfer pricing risks and other risks related to base erosion and profit shifting.