H.R. 4297 · 114th Congress
To impose certain requirements on the Secretary of the Treasury relating to transmittals of…
Full title
To impose certain requirements on the Secretary of the Treasury relating to transmittals of country-by-country reports for purposes of the Base Erosion and Profit Shifting Action Plan.
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BoustanySponsorNo cosponsors.
This bill expressly prohibits the Department of the Treasury from collecting from a U.S. person or transmitting to any foreign jurisdiction any country-by-country report (CbCR) information of any U.S. person for taxable years beginning before January 1, 2017.
What it does: CRS summary · Introduced in House · Dec 18, 2015
This bill expressly prohibits the Department of the Treasury from collecting from a U.S. person or transmitting to any foreign jurisdiction any country-by-country report (CbCR) information of any U.S. person for taxable years beginning before January 1, 2017. CbCR information is used by the Organization for Economic Cooperation and Development to develop its Base Erosion and Profit Shifting (BEPS) Action Plan to increase the transparency of transfer pricing practices and other tax transactions of multinational business enterprises.
Treasury must: (1) suspend the transmittal of CbCR information of any U.S. person to a foreign jurisdiction if it determines that such jurisdiction is abusing BEPS master file documentation requirements or failing to safeguard the confidentiality of information required in the master file, and (2) report to the congressional tax committees on allegations or reports received concerning the abuse of master file documentation requirements and any actions taken with respect to such allegations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To impose certain requirements on the Secretary of the Treasury relating to transmittals of country-by-country reports for purposes of the Base Erosion and Profit Shifting Action Plan.
Latest action (Dec 18, 2015): Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Taxation · Origin: House · Introduced: Dec 18, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.