Back in December 2015, the U.S. Treasury Department and the IRS jointly release their proposed U.S. country-by-country (CbC) reporting regulations related to the far-reaching Action Plan 13 on Base Erosion and Profit Shifting (BEPS) effort by the Organisation for Economic Cooperation and Development (OECD).
Since then, the 90-day comment period on the proposed rules concluded (on March 22). And the proposed regulations are expected to be finalized on or before June 30, according to U.S. Treasury Deputy Assistant Secretary for International Tax Affairs Robert Stack. So, it’s a good time to take another detailed look at that proposal.
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