As previously reported, the Bahamas House of Assembly approved the Multinational Entities Financial Report Bill 2018 in May 2018 for the introduction CbC reporting requirements. The text of the legislation as enacted in July 2018 has recently become available. Key points are summarized as follows: The CbC reporting requirements apply for reporting fiscal years beginning on or after 1 January 2018 for MNE groups meeting a USD 850 million consolidated group revenue threshold in the preceding year; The obligation to submit CbC reports applies for ultimate parent entities resident in the Bahamas and surrogate parent entities, subject to certain conditions...