India Updates CbC Reporting and Master File Rules

India's Central Board of Direct Taxes has issued Notification No. 31/2021 of 5 April 2021, which contains the Income-tax (9th Amendment) Rules, 2021. One of the key changes is an increase in the reporting (exemption) threshold for Country-by-Country (CbC) reporting from INR 55 billion (5,500 crore) to INR 64 billion (6,400 crore) consolidated group revenue in the preceding year. This brings the threshold more in line with the standard EUR 750 million threshold following an overall decline in…