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AGENDA ITEM IV. MEMORANDUM DATE: October 7, 2016, TO: Metropolitan Wastewater Management Commission (MWC) FROM: Josh Newman, Managing Civil Engineer SUBJECT: Electrical Distribution System Planning
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M E M O stands for Multinational Entity Monitoring and Reporting. It is a report that provides information on the global allocation of income, economic activity, taxes paid, and certain indicators of the location of economic activity among tax jurisdictions in which a multinational enterprise operates.
Multinational enterprises with annual consolidated group revenue exceeding a certain threshold are required to file M E M O.
M E M O can be filled out electronically through the tax authority's designated online portal or software. The report requires detailed information on the multinational enterprise's global operations.
The purpose of M E M O is to enhance transparency and help tax authorities assess transfer pricing risks and other BEPS-related issues in multinational enterprises.
M E M O requires information on the multinational enterprise's global allocation of income, taxes paid, taxes accrued, business activities, and certain indicators of economic activity.
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