US Congress House Bill 4297 (Prior Session Legislation)

---

Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on December 18 2015 - 25% progression, died in committee
Action: 2015-12-18 - Referred to House Foreign Affairs
Pending: House Foreign Affairs Committee
Text: Latest bill text (Introduced) [PDF]

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. 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.

Rep. Charles Boustany [R-LA]

Date	Chamber	Action
2015-12-18	House	Referred to House Foreign Affairs
2015-12-18	House	Referred to House Ways and Means
2015-12-18	House	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.
2015-12-18	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/4297/all-info
Text	https://www.congress.gov/114/bills/hr4297/BILLS-114hr4297ih.pdf