India (IN)

Jurisdiction Overview

IDQuestionAnswer
419 *CBCR: Is there a local filing requirement of a global country-by-country reporting file (according to OECD’s BEPS Action 13) by large corporate groups (with a worldwide turnover higher than 750 million Euro) and local subsidiaries of foreign groups? Beyond OECD Legislation: Secondary mechanism is not subject to restrictions imposed by OECD model legislation: any domestic subsidiary of a group would have to file the CbCR in all cases in which the jurisdiction cannot obtain the CbCR via AEoI.
 Data Date: 2019

Notes

 
A parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the purposes of sub-section (2) or sub-section (4) of section 286 of the Income-tax Act, 1961 shall fill CbC report (10DB-4). Modaq confirmed: "There are situations wherein the India Constituent Entities are required to locally file the CbCR. They are as follows: [...] Where India does not have an agreement for the exchange of the CbC Report by the country in which the Ultimate Parent Entity is resident" (Mondaq.com).
 
"India’s 2017/2018 peer review included a recommendation that India amend its legislation or otherwise takes steps to ensure that local filing is only required in the circumstances contained in the terms of reference. This recommendation remains in place" (OECD CBCR 2019: 249).

Sources

OECD CBCR 2019
 
http://www.incometaxindia.gov.in/communications/notification/notification92_2017.pdf
 
http://www.mondaq.com/india/x/769808/tax+authorities/Flng+CountryByCountry+Report+Locally