the case may be, after (a)(2)(B)(ii) , (C) in paragraph (5), by striking subsection (a)(2)(B)(ii) and inserting subsections (a)(2)(B)(ii) and (b)(2)(B)(i) , and (D) in paragraph (6), by inserting or inverted domestic corporation, as the case may be, after surrogate foreign corporation . (c) Effective date The amendments made by this section shall apply to taxable years ending after May 8, 2014. 109. Country-by-country reporting (a) Country-by-Country Reporting Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following new subsection: (s) Disclosure of financial performance on a Country-by-Country basis (1) Rules required The Commission shall issue rules that require each issuer to include in an annual report filed by the issuer with the Commission information on a country-by-country basis during the covered period for each tax jurisdiction, aggregated from all subsidiaries residing in that jurisdiction, consisting of— (A) revenues from unrelated parties, related parties, and in total, (B) profit or loss before taxes, (C) income tax accrued for the current year, (D) income tax paid (on a cash basis), (E) stated capital, (F) accumulated earnings, (G) number of employees, (H) tangible assets other than cash or cash equivalents, and (I) such other financial information as the Commission may determine is necessary or appropriate in the public interest or for the protection of investors. (2) Rules relating to foreign subsidiary For each foreign subsidiary, the report required by paragraph (1) shall be grouped by resident jurisdiction (including a group for subsidiaries resident nowhere), the tax jurisdiction (if different), and main business activity. . (b) Rulemaking (1) Deadlines The Securities and Exchange Commission (in this section referred to as the Commission ) shall— (A) not later than 270 days after the date of enactment of this Act, issue a proposed rule to carry out this section and the amendment made by this section