While speaking at the 4th Annual Transfer Pricing Symposium held at the University of San Diego on 28 April 2016, U.S. Treasury Deputy Assistant Secretary Robert Stack stated that Treasury and the IRS are working on a solution to allow U.S. MNEs to voluntarily file Country-by-Country (CbC) reports in the U.S. for 2016. The voluntary filing is meant to resolve the gap year issue caused by the late adoption of CbC reporting requirements in the U.S. The gap year issue is due to the fact that several countries have already adopted CbC reporting requirements for fiscal years beginning on or...