26 December 2018
India’s Central Board of Direct Taxes (CBDT) today announced that the deadline for filing certain country-by-country (CbC) reports has been extended to 31 March 2019. This is a one-time extension of the CbC reporting deadline.
The CBDT release provides in pertinent part:
In order to remove the genuine hardship in furnishing of the report under sub-section (4) of section 286 of the Act read with sub-rule (4) of rule 1ODB of the Rules caused as above, and as a one-time measure, the Board, in exercise of powers conferred under section 119 of the Act ,extend the period for furnishing of said report by the constituent entities referred to under clause (a) or (aa) of said sub-section, in respect of reporting accounting years ending up to February 28, 2018, to March 31, 2019. [Emphasis added]
For more information, contact a tax professional with KPMG's Global Transfer Pricing Services practice in India:
Anuradha Rathod | +91 22 309 02 758 or +91 98 201 50 166