On 14 July 2016, the Austrian parliament approved the EU Tax Amendment Act, which provides for new three-tiered transfer pricing documentation requirements in line with Action 13 of the OECD BEPS Project, as well as the exchange of cross border tax rulings and advance pricing agreements in the EU ({News-2015-12-10/A/2- previous coverage}), and certain other measures. The new transfer pricing documentation requirements include Country-by-Country (CbC) reporting, Master file and Local File. The main aspects of the new requirements are summarized as follows. CbC Reporting The CbC reporting requirements are in line with the guidelines developed under Action 13, and the...