On 11 April 2016, the South African Revenue Service (SARS) published draft regulations on the Country-by-Country (CbC) reporting standard for multinational enterprises based on the guidelines developed as part of Action 13 of the OECD BEPS Project. The main aspects of the draft regulations are summarized as follows. CbC Report Filing Obligation The ultimate parent entity of an MNE group that is resident in South Africa must file a CbC report for the reporting fiscal year if the consolidated annual group revenue in the previous year meets or exceeds ZAR 10 billion. If the ultimate parent of the group is...