The US IRS on August 11 advised that parent entities of US multinational enterprise groups can now file Form 8975, Country-by-Country Report, with their annual income tax return. The filing applies to MNE groups with revenue of USD $850 million or more in a previous annual reporting period.
Form 8975, and attached Schedules A, will report a US MNE group’s income, taxes paid, and other indicators of economic activity on a country-by-country basis.
