Troubles with the IRS’s Implementation of FATCA

The National Taxpayer Advocate’s Objectives Report to Congress for Fiscal Year 2016 contained the Taxpayer Advocate’s eleven areas of focus for 2016. Statement Area of Focus #4, The IRS’s Implementation of FATCA Has in Some Cases Imposed Unnecessary...

US issues Revenue Procedure – CbC report filing

Revenue Procedure 2017-23 was issued by the Internal Revenue Service on 19 January 2017 and sets out the process for filing Form 8975 Country-by-Country Report. Form 8975 and its accompaniment Schedule A, Tax Jurisdiction and Constituent Entity Information are both...

Country-by-country reporting is here to stay

Globally, there has been a noticeable increase in countries preparing for country-by-country (CBC) reporting pursuant to the OECD’s BEPs Action Plan (‘Plan’). Action 13 of the Plan: Country-by-Country Reporting covers these recommendations: The...
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