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On 29 June 2016, Treasury and the IRS released final regulations requiring large US multinational companies to prepare and file country-by-country (CbC) reports for tax years beginning on or after 30 June 2016, stating worldwide profits, taxes, capital, employees, assets and other information, by jurisdiction.

This Client Alert provides a detailed description of the final regulations, along with an analysis of the international environment surrounding CbC reporting, and the issues and challenges ahead for the US Treasury, IRS and taxpayers as these regulations are implemented.

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