Written by Akhter Syed in Taxation New rules define reporting requirements for multinational enterprise groups, including the €750 million consolidated revenue threshold and information required for international tax transparency. ISLAMABAD: The Federal Board of Revenue (FBR) has updated country-by-country (CbC) reporting requirements for Tax Year 2027, specifying the documentation and information that certain taxpayers must maintain and furnish to tax authorities. The FBR issued the Income Tax Rules, 2002, updated up to September 15, 2026, for the tax year covering July 1, 2026, to June 30, 2027. Under Rule 27A, the provisions apply to sub-sections (3) to (5) of Section 108 of the Income Tax Ordinance, 2001. The rules prescribe documents, records, information and reports that specified taxpayers must maintain and provide to the FBR and the Commissioner. The rules primarily cover multinational enterprise (MNE) groups with annual consolidated revenue of at least €750 million, or its equivalent in Pakistani rupees,…