Finland Approves New Transfer Pricing Documentation Requirements including CbC Reporting

On 23 November 2016, the Finnish parliament approved the law introducing new transfer pricing documentation requirements, including Country-by-Country (CbC) reporting requirements in line with BEPS Action 13 and Council Directive (EU) 2016/881.

Master/Local File

The new transfer pricing documentation requirements are based on BEPS Action 13 guidelines and include two sections:

Section 1 (Master file), including:

1. Organizational structure;
2. A description of the group's business;
3. A descript…