Will EU Findings Press US For Greater Tax Transparency?

Law360 article by Saul Mezei and C. Terrell Ussing, Morgan Lewis & Bockius LLP, and Robert Wentland and Jonathan Rush, Navigant

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The Organization of Economic Co-Operation and Development’s (OECD’s) country-by-country (CbC) reporting recommendations have received significant attention for the reporting obligations they represent for U.S.-based multinational enterprises (MNEs). But these are not the only potential obligations on the horizon. The European Commission — the European Union’s executive body — is scheduled to release its findings regarding its tax transparency initiative in early 2016, which call for public disclosures of information similar to the OECD’s CbC reporting recommendations. This article written by Navigant’s Jonathan Rush and Rob Wentland and Morgan Lewis’ Saul Mezei and C. Terrell Ussing looks at the final CbC reporting requirements, the E.C. tax transparency initiative and provides some early indications that can be draw from them.

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