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U.S. Treasury Responds to Senate Finance Committee and House Ways and Means Committee Letter on CbC Regs

16 November 2015

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Proposed Changes

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United States

In a recently published letter (dated 5 October 2015), U.S. Department of the Treasury’s Deputy Under Secretary for Legislative Affairs Anne Wall responded to concerns raised by Senate Finance Committee Chairman Orrin Hatch R-UT and previous House Ways & Means Committee Chairman Paul Ryan R-WI regarding the implementation of the outcome of the OECD BEPS Project ({News-2015-08-31/P/3- previous coverage}). In particular, Deputy Under Secretary Wall addressed country-by-country reporting requirements developed as part of Action 13 of the BEPS Project, including the need for a coordinated approach to implement consistent CbC requirements across all countries. Concerning Treasury's authority to implement CbC...