3.0.0 4297 2023-01-11T13:32:26Z 2023-01-11T13:32:26Z House HR 2015-12-18 114 [Congressional Record Volume 161, Number 185 (Friday, December 18, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BOUSTANY:H.R. 4297.Congress has the power to enact this legislation pursuantto the following:Article I[Page H10711]]]> hsfa00 Foreign Affairs Committee House Standing Referred to 2015-12-18T14:02:10Z hswm00 Ways and Means Committee House Standing Referred to 2015-12-18T14:02:05Z 2015-12-18 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. IntroReferral H11100 2 House floor actions hsfa00 Foreign Affairs Committee 2015-12-18 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. IntroReferral H11100-A 9 Library of Congress 2015-12-18 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2015-12-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-12-18 Introduced in House IntroReferral 1000 9 Library of Congress B001255 Rep. Boustany, Charles W., Jr. [R-LA-3] Charles Boustany R LA W. 3 N Taxation Business records Congressional oversight Foreign and international corporations Government information and archives Tax administration and collection, taxpayers Taxation of foreign income Trade secrets and economic espionage Taxation 00 2015-12-18 Introduced in House 2016-04-22T20:14:58Z 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.

]]> 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. Display 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. Official Title as Introduced 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. Introduced in House IH Introduced in House 2015-12-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4297ih/xml/BILLS-114hr4297ih.xml 2015-12-18 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. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.