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India Hikes Threshold For Country-by-Country Reporting

by Mary Swire, Tax-News.com, Hong Kong

15 April 2021


India has enacted legislation to hike the turnover threshold for filing a country-by-country report.

Previously, multinational companies headquartered in India were required to file a country-by-country report if their consolidated group turnover in the past accounting year was INR55bn (USD733m) or more. With effect from April 1, 2021, this threshold was been increased to INR64bn (USD853m).

The changes were introduced in The Income-Tax (9th Amendment) Rules, 2021, which came into force on April 1, 2021.

TAGS: tax | India | accounting | tax authority | legislation | transfer pricing | Tax | BEPS

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