We have reported several times about the new Country-by-Country (CBC) reporting regime. Taxpayers and the tax bar have been desperate for clarity about the requirements for CbC reporting. In response, today the Internal Revenue Service (IRS) announced the launch of its CbC resource on its www.IRS.gov website. The new information is designed to provide background on CbC, frequently asked questions and other information. One of the best features is a list of jurisdictions that have concluded Competent Authority Arrangements with the United States.
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