basis. (IX) Net book value of tangible assets, not including cash or cash equivalents, intangibles, or financial assets. (iii) Special rules The information listed in clause (ii) shall be provided, in aggregated or consolidated form, for any constituent entity or entities that have no tax jurisdiction of residence. If a constituent entity is an owner of a constituent entity that does not have a jurisdiction of tax residence, then the share of the owner of the revenues and profits of the entity shall be aggregated or consolidated with the information for the tax jurisdiction of residence of the owner. (C) Reporting period The reporting period covered by this paragraph is the period of the applicable financial statement of the covered entity prepared for the 12-month period that ends with or within the taxable year of the covered issuer. If the covered issuer does not prepare an annual applicable financial statement, the reporting period covered by this paragraph is the 12-month period that ends on the last day of the taxable year of the covered issuer. (D) Filing deadline Each covered issuer shall submit to the Commission a report required under this section on or before the due date (including extensions) for filing the tax return of the covered issuer in the tax jurisdiction in which the multinational enterprise group of the covered issuer is resident. (E) Regulations The Commission shall promulgate regulations carrying out this section that conform to United States or international standards for country-by-country reporting, including regulations promulgated by the Internal Revenue Service. . (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 amendments made by this section