February 17, 2016
AAF Review Of Base Erosion & Profit Shifting Disclosure Requirements
New information reporting (Action 13) required under the Base Erosion and Profit Shifting initiative by the OECD, would impose significant compliance burdens on multinational companies and expose proprietary and sensitive information, a new overview from the American Action Forum (@AAF) found. Action 13 requires three-tiered reporting for multinational companies to foreign governments in order to disclose their international tax operations.
“Despite these costs, many nations are moving forward with implementing these policies, which will unavoidably subject U.S. firms with interests in those jurisdictions to the new reporting requirements irrespective of legislative or regulatory action in the United States,” said Gordon Gray, AAF’s Director of Fiscal Policy.
Click here to read the primer.