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March 2013 Vol. XXXVII No. 07 T R I A D Affiliated With NEST 10195 & AFT/NEA AFL/CIO Local 2991 News from the President Dear Colleagues, Spring is on its way. The days are getting longer and the air
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CRBFA stands for Country-by-Country Reporting of Base Erosion and Profit Shifting. It is a requirement for multinational companies to report their income and taxes on a country-by-country basis.
Multinational companies with consolidated revenue exceeding a certain threshold are required to file CRBFA.
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The purpose of CRBFA is to prevent tax evasion and profit shifting by multinational companies, and increase transparency in their financial activities.
CRBFA requires the reporting of detailed financial and tax information, including revenue, profits, taxes paid and accrued, and other relevant data on a country-by-country basis.
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