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U.S. IRS Issues Updated FAQ and Guidance on CbC Reporting

11 April 2018

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Approved Changes

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United States

On 10 April 2018, the U.S. IRS issued Country-by-Country Reporting News & Information Issue 2018-2 (email newsletter). The main points are reproduced as follows: --- 1.  IRS Publishes New Content on Country-by-Country (CbC) Reporting New content is available on the CbC Reporting pages: New CbC Reporting FAQs are now available. The Jurisdiction Status Table contains recently signed Competent Authority Arrangements for the exchange of CbC Reports. 2.  IRS Releases Guidance for Specified National Security Contractors Filing Form 8975 and Schedules A (Form 8975) The Office of Associate Chief Counsel (International) has released Notice 2018-31 providing new guidance for U.S. MNEs that are...