On 11 August 2017 the US IRS in its latest bulletin of news and information on country by country (CbC) reporting advised that parent entities of U.S. multinational enterprise (MNE) groups with $850 million or more of revenues in a previous annual reporting period can now file Form 8975, Country-by-Country Report, with their annual income tax return.
Form 8975, and attached Schedules A, will report a U.S. MNE group’s income, taxes paid, and other indicators of economic activity on a country-by-country basis.
