U.S. Considers National Security Exception to Reporting Rules

The Internal Revenue Service's proposed rules on country-by-country reporting contain few surprises, practitioners say, but raise several questions—including an unexpected one about whether the new requirements should include an exception for national security reasons.
“All companies are concerned about the potential inappropriate use of information. Will information be leaked?” said Barbara Angus, a principal at EY LLP in Washington. In the defense industry, she said, “the concern goes deeper.”

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By Gregory, Dolores W. , posted on Thursday December 24, 2015

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