India Publishes Finance Bill 2016 as Enacted

On 14 May 2016, India's Ministry of Law and Justice published the Finance Act, 2016 in an extraordinary edition of the Official Gazette, which received assent from the president on the same date. The Act provides for the measures announced in the 2016-2017 Union Budget ({News-2016-03-01/P/2- previous coverage}). Some of the main measures include:

• The introduction of Country-by-Country (CbC) reporting requirements in line with Action 13 of the OECD BEPS Project for MNE group's with annual con…