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3z03Easterli Eastern, Deborah From: From: Sent: Sent: To: To: Subject: Subject:Ea sterling, Ea sterling, Deborah Tuesday, Tuesday, September 06, 2011 3:36 3:36 PM \'Trent Murrow\' \'Trent Letter of
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C ITS stands for Country-by-Country Information Technology Solutions.
Multinational companies with annual revenues exceeding a certain threshold are required to file C ITS.
C ITS forms can be filled out electronically through the designated portal provided by the tax authorities.
The purpose of C ITS is to provide tax authorities with information about the global allocation of a multinational enterprise's income, taxes paid, and certain indicators of economic activity.
C ITS typically requires information such as the revenue, profit, taxes paid, employees, and assets of each entity within a multinational group.
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