India: Extension of Country-by-Country Reporting (CbCR) filing due date

published on 11 February 2019

Central Board of Direct Taxes (”CBDT”) notifies on December 26, 2018 extension of CbCR filing due date.

The time line for filing of CbCR was 12 months from the end of the reporting accounting year, i.e. accounting year ending on December 31, 2017 the filing due date was December 31, 2018.

The CBDT has vide circular dated December 26, 2018, extended the due date to March 31, 2019 for situations covered under, where Indian Constituent entity is obliged to furnish CbCR:

Where the parent entity is not obligated to file CbCR
Where the parent entity being a resident of a country or territory with which India does not have an agreement providing for the exchange of CbCR.

It should be noted that, the extended time limit of March 31, 2019 shall apply to all reporting accounting years ending up to February 28, 2018.

The above circular clarifies that the requirement to furnish CbCR in India applies to all reporting accounting year ending up to February 28, 2018. In India, CbCR compliances are effective from April 1, 2016 onwards.

Accordingly, if the reporting accounting year of the MNE group is January to December, then Indian constituent entity will have to furnish CbCR by March 31, 2019 for two years; i.e, for the year ended on December 31, 2016 and December 31, 2017.