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- Title
International Tax Issues Corner.
- Authors
Forst, David
- Abstract
The article focuses on the country-by-country (CbC) international tax regulations adopted by U.S. Internal Revenue Service IRS based on foreign asset reporting. It states that if the ultimate parent entity does not prepare an annual applicable financial statement, then the reporting period covered is the 12-month period. It mentions that business entities are required to consolidate with the ultimate parent under U.S. generally accepted accounting principles (GAAP).
- Subjects
FOREIGN asset tax; INTERNATIONAL taxation; UNITED States. Internal Revenue Service; FINANCIAL statements; ACCOUNTING standards
- Publication
Journal of Passthrough Entities, 2016, Vol 19, Issue 5, p23
- ISSN
1099-7407
- Publication type
Article