The Hungarian government has reportedly proposed draft legislation to transpose into domestic law the amendments made to the EU Administrative Cooperation Directive by Council Directive (EU) 2016/881 concerning Country-by-Country (CbC) reporting. As an EU Member State, Hungary is required to implement the CbC reporting and exchange provision contained in the Directive by 4 June 2017, including that CbC reporting applies for fiscal years beginning on or after 1 January 2016 for Hungarian MNE groups meeting a EUR 750 million consolidated revenue threshold. Local non-parent filing requirements also apply, although individual Member States are allowed to defer such secondary reporting by...