CbCR is a standardised report which includes aggregate tax jurisdiction information relating to the global allocation of income, the taxes paid, and certain indicators of the location of economic activity among tax jurisdictions in which the MNE Group operates.
The UAE CbCR requirements are applicable to MNE Groups headquartered in the UAE with consolidated Group revenue equal to or above AED 3.15 billion (approximately EUR 750 million) during the Fiscal Year immediately preceding the reporting Fiscal Year.
The Ultimate Parent Entity (‘UPE’) will be required to submit a CbCR notification in respect of each reporting Fiscal Year. The CbCR notification needs to be submitted no later than the last day of the Fiscal Year and it informs the FTA that the UPE is the reporting Entity which will file the CbCR. The UPE is also required to file the CbCR no later than 12 months after the last day of each reporting year of the MNE Group in the UAE.
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