On 30 June 2017, the U.S. IRS released the final Form 8975 - Country-by-Country (CbC) Report and Schedule A (Form 8975), as well as the Instructions for Form 8975 and Schedule A (Form 8975). The U.S. CbC reporting requirements apply for reporting periods (fiscal years) beginning on or after 30 June 2016 for U.S.-parented MNE groups with annual consolidated revenue of USD 850 million or more in the preceding reporting period. CbC reports will also be accepted for reporting periods beginning on or after 1 January 2016 for voluntary (parent surrogate) filing, in order for U.S. MNEs to avoid local...