Welcome

Treasury, IRS Delay Reporting Provision of BEAT Rules to 2023

June 10, 2021, 7:58 PM

Companies will have until 2023 to prepare for disclosing some information under a regulation under U.S. anti-profit-shifting rules, Treasury and the IRS said Thursday.

The extension (Notice 2021-36) delays until Jan. 1, 2023, a reporting provision that was set to take effect beginning this week, as part of a 2019 regulation relating to the base erosion anti-abuse tax, or BEAT.

Treasury and the IRS say the added time is needed to allow them to study a related issue. A transition period that is currently in effect regarding the provision will continue until then.

BEAT imposes an extra tax ...

To read the full article log in. To learn more about a subscription click here.