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Panama Signs Multilateral Pact To Exchange CbC Reports

by Mike Godfrey, Tax-News.com, Washington

17 June 2019


Panama has become the latest jurisdiction to sign the Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA), allowing it to exchange CbC reports with other jurisdictions on an automatic basis.

As of January 24, 2019, 76 jurisdictions had signed the CbC MCAA, and there are now over 2,000 bilateral exchange relationships activated with respect to jurisdictions committed to exchanging CbC reports. The first automatic exchanges took place in June 2018.

Panama must now put in place legal measures allowing it to exchange CbC reports.

TAGS: transfer pricing | Panama | Tax | BEPS

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