Taiwan Announces New CbC Report Safe Harbor for Members of Foreign-Parented MNE Groups

Taiwan's Ministry of Finance has issued a release announcing changes in the safe harbor rules for Country-by-Country report preparation/submission, which were made by Decree No. 10804651540 of 10 December 2019. The changes include a new safe harbor meant to reduce the compliance burden on smaller operations in Taiwan and of foreign parented groups.

The new safe harbor for CbC reporting provides that where the safe harbor thresholds for the Master file are not met, then the requirement to …