5 EU designated entity reporting

(1) An EU designated entity resident for tax purposes in the State shall provide a country-by-country report to the Commissioners in accordance with Regulation 8.

(2) Regulation 3 shall not apply to a domestic constituent entity in respect of a fiscal year where—

(a) an EU designated entity of the same MNE group resident for tax purposes in the State provides a country-by-country report for the fiscal year in accordance with paragraph (1), or

(b) an EU designated entity of the same MNE group resident for tax purposes in a Member State, other than the State, provides a country-by-country report in respect of the fiscal year and the domestic constituent entity has made a notification to the Commissioners in accordance with Regulation 6(2).