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U.S. Skeptical About Permanent Safe Harbor for GLOBE Tax Framework

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Accounting Board Resists Backlash to Income Tax Reporting Plan

  • By Amanda Iacone

The US accounting standard setter said it would press on with a project that would force companies to detail the amount of income tax paid to state, federal, and foreign tax authorities. Companies would also be required to disclose the states, countries, and amounts paid if payments equal 5% or more of total tax payments.

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