According to recent reports, the United Arab Emirates Cabinet of Ministers has approved Resolution No. 32 of 2019, which provides for the implementation of Country-by-Country (CbC) reporting requirements. The requirement to submit a CbC report primarily applies for ultimate parent entities of MNE groups resident in the UAE that meet an annual consolidated group revenue threshold of AED 3.15 billion in the previous year. However, the requirement may also apply for non-parent constituent entities resident in the UAE if: The ultimate parent is not required to submit a CbC report in its jurisdiction of residence; The UAE does have an...