Updated list of jurisdictions contemplated in Article 2(2)(ii)(b) of the regulations specifying the CbCR Standard
Updated lists of countries having an International Agreement in place with South Africa for purposes of Article 2(2) has been made available. The lists are intended to assist members of Multi-National Entity (“MNE”) Groups tax resident in South Africa in complying with their obligations under Article 2(2)(ii)(b) of the Country-by-Country reporting Regulations.
The Ultimate Parent Entity or other Multi-National Entity (“MNE”) must submit the required information as stipulated in the Business Requirements Specification (“BRS”): Country-by-Country and Financial Data Reporting document, as previously issued by SARS. Local filing of a Country-by-Country (“CbC”) Report (referred to as the CbC01) by others members of an MNE Group is required in the circumstances as described in Article 2(2) read with Article 2(3) of the CbC Regulations.
The updated lists of countries having an International Agreement in place with South Africa for purposes of Article 2(2) is available here. [MDT1]
02/07/2021