The Country-by-Country Reporting Regulation (Regulation Number 2021/R-9) shall be amended as follows:

1. Insert a subsection after Section 4(b) of the aforementioned Regulation as follows:

4. (b-1) The condition set out in subsection (b)(2)(i) shall not apply where the jurisdiction of residence of the Ultimate Parent Entity of the MNE Group of which it is a Constituent Entity has implemented a reporting threshold that is a near equivalent of EUR 750,000,000 (Seven Hundred and Fifty Million Euros) in its domestic currency as it was at January 2015, and the MNE Group complies with that local threshold.

2. This Regulation shall have effect from the date of its publication in the Government Gazette.