Tax & Accounting Blog

U.S. Treasury Seeks Comments on CbC Reporting Form

U.S. Treasury Seeks Comments on CbC Reporting Form

On August 22, 2016, Treasury published a notice in the Federal Register seeking comments on IRS Form 8975 (Country-by-Country Report), which ultimate parent entities of U.S. multinational enterprise (MNE) groups will use for country-by-country (CbC) reporting purposes. Written comments are due by September 21, 2016. The notice says that “businesses or … Read More

PwC’s David Ernick on Companies’ Response to BEPS Action 13

PwC’s David Ernick on Companies’ Response to BEPS Action 13

David Ernick is a Principal in the Transfer Pricing Practice of PricewaterhouseCoopers’ (PwC) Washington National Tax Services office. Prior to joining PwC, Mr. Ernick was Associate International Tax Counsel at the U.S. Treasury Department. Mr. Ernick answered the following questions for BEPS Global Currents on August 9, 2016 regarding the OECD BEPS project: Q: Did … Read More

Luxembourg Issues Draft Law on Country-by-Country Reporting

Luxembourg Issues Draft Law on Country-by-Country Reporting

On August 2, 2016, Luxembourg’s Parliament issued a draft law that would implement EU Directive 2016/881 regarding the automatic and mandatory exchange of tax information and country-by-country (CbC) reporting for multinational companies. See BEPS Action 13. The ultimate parent entity of a group of multinational companies that are Luxembourg … Read More