The Cyprus Ministry of Finance has reportedly issued a decree to transpose into domestic law the amendments made to the administrative cooperation Directive (Directive 2011/16/EU) concerning the exchange of Country-by-Country reports. The amendments were made by Council Directive (EU) 2016/881 and require all EU member states to introduce standard CbC reporting requirements from 1 January 2016, with a standard reporting threshold of EUR 750 million in annual consolidated group revenue in the previous year and a standard reporting deadline of 12 months following the close of the ultimate parent fiscal year. The EU requirements also provide that notification of the...