Brazil Issues Final CbC Normative Instruction

On 29 December 2016, Brazil's Federal Revenue Department (RFB) announced the issuance of RFB Normative Instruction No. 1681/2016 on the obligation to submit a Country-by-Country (CbC) report. The main aspects of the Normative Instruction include:

• The CbC requirement applies for MNE groups meeting:
  • A BRL 2.26 billion consolidated group revenue threshold in the previous fiscal year if the ultimate parent is resident in Brazil; and
  • A EUR 750 million consolidated group revenue threshold in the …