Law360, New York ( September 29, 2015, 12:26 PM EDT) -- A perception of aggressive tax planning and profit shifting to low tax jurisdictions has raised concerns with a number of governments around the world, including the member states of the European Union. For better or worse, one response has been the introduction and consideration of country-by-country reporting rules. In this regard, on June 17, 2015, the European Commission launched a public consultation on corporate tax transparency, which covers a variety of tax transparency measures, including country-by-country reporting (see here). The consultation closed on Sept. 9, with 422 responses. The responses received in the consultation are now being considered by the commission, which is to draft an impact assessment of potential country-by-country reporting rules....
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