On 9 October 2017, the Financial Administration published information on the exchange of information on multinational groups with revenues over EUR 750 million. This new obligation was brought about by the amendment to the Act on International Tax Cooperation, which entered into force on 19.9.2017
Each Czech member entity, which is part of a multinational enterprise group, is required to file a Notification through the EPO application. The notification must be submitted at the latest by the end of the first reporting period, which means the accounting period for which the consolidated group financial statements are prepared. The first Notification must be submitted by 31 October 2017 in case that the first reported accounting period ends before that date.
Another obligation associated with CbCR (Country by Country Reporting) is submission of the Notification submitted by the highest parent or representative entity of the group. In the event that the Notification obligation applies to the Czech Entity, this Notification will be filed via the EPO application within 12 months of the end of the reporting period. First fulfillment of the Notification obligation under this Act shall be made by 31 December 2017.
The Local Tax Administrator for the purpose of submitting these Notifications is the Specialized Financial Authority.
The EPO Application Form has also been placed on the Financial Administration website.
You can find the link to this form below:
More information on the issue, including the Country-by-Country Reporting (CbCR), can be found in the link below:
