The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
The Treasury Department doesn't have the authority to require country-by-country reporting for U.S. multinationals to share employee, revenue and tax data with foreign countries, Rep. Kevin Brady (R-Texas) said.
Brady, a senior member of the House Ways and Means Committee, said Congress has the authority to approve—or reject—the disclosure program that is a tenet of the Organization for Economic Cooperation and Development's base erosion and profit shifting project that seeks to increase transparency between companies and tax authorities.
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