3 Domestic constituent entity reporting

(1) Subject to Regulation 4 and paragraph (2) of Regulation 5, a domestic constituent entity of an MNE group shall, in accordance with subparagraphs (b) and (c) of paragraph (2), provide a country-by-country report or equivalent country-by-country report, as the case may be, for a fiscal year where—

(a) the ultimate parent entity of that MNE group is not required to provide a country-by-country report in its jurisdiction of tax residence,

(b) the jurisdiction in which the ultimate parent entity of that MNE group is resident for tax purposes does not have in effect, by the latest date specified in Regulation 8, a qualifying competent authority agreement with the State that provides for the exchange of country-by-country reports, or

(c) there has been a systemic failure by the jurisdiction of tax residence of the ultimate parent entity of that MNE group and the Commissioners have notified the domestic constituent entity that such a failure has occurred.

(2) (a) Where one, or more, of the circumstances mentioned in subparagraph (a), (b) or (c) of paragraph (1) exist, a domestic constituent entity shall request its ultimate parent entity to provide it with all the information required to prepare a country-by-country report with respect to a fiscal year.

(b) Where the ultimate parent entity provides the domestic constituent entity with all the information required in accordance with subparagraph (a), the domestic constituent entity shall provide a country-bycountry report to the Commissioners in accordance with Regulation 8.

(c) Where the ultimate parent entity has refused to comply with the request for the information required in accordance with subparagraph (a), the domestic constituent entity shall—

(i) notify the Commissioners in writing of this refusal in accordance with Regulation 6(4), and

(ii) provide an equivalent country-by-country report to the Commissioners with respect to the fiscal year in accordance with Regulation 8.

(3) The notification referred to in paragraph (1)(c) may be made by the Commissioners in such form and manner, including by electronic means, as may be specified by the Commissioners from time to time.

(4) Where a domestic constituent entity fails to make a request in accordance with paragraph (2)(a), then subsection (7) of the principal section shall apply as if the failure to make such a request were a failure to provide a country-bycountry report in accordance with that subsection.

(5) For the purposes of paragraph (2)(c) an ultimate parent entity shall be deemed to have refused to provide the information referred to in that paragraph where it has failed, within the period specified in Regulation 6(4), to provide such information.