The Government of Gibraltar has reportedly issued draft legislation to transpose into domestic law the amendments made to the EU Directive on administrative cooperation in the field of taxation (2011/16/EU) concerning the exchange of Country-by-Country (CbC) reports (Council Directive (EU) 2016/881). As per the Directive, standard CbC reporting rules will apply, including requirements from fiscal year 2016, the EUR 750 million group revenue threshold, the requirement to submit the report within 12 months following the end of the reporting fiscal year, secondary local filing requirements, and CbC notification requirements. Regarding the last two, Gibraltar plans to require secondary filing from...