Stack: U.S. Country-by-Country Rules Expected by June 30

The U.S. expects to finalize its rules on country-by-country reporting by June 30, Treasury Deputy Assistant Secretary for International Tax Affairs Robert Stack told Bloomberg BNA, adding that he hopes other countries will be flexible about the effective date of their own rules.

“We fully expect” to finalize the regulations by June 30 so that companies meeting the threshold level of sales would be required to file with their tax return a country-by-country report “for all tax years that begin after that date, including years beginning on July 1, 2016, and September 1, 2016,” the Treasury Department official said in an e-mail.