US releases proposed regulations requiring country-by-country reporting by MNEs

The US IRS on December 21 released proposed regulations requiring annual country-by-country reporting by US parents of large multinationals.

The regulations are consistent with standards developed under the OECD/G20 base erosion profit shifting (BEPS) plan. They required MNEs to provide information on a country-by-country basis related to the MNE group’s income and taxes paid, as well as indicators of the location of economic activity within the MNE group.

Comments on the regulations are requested by March 22, 2016.

See:

• REG-109822-15

 

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