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Six More Countries Agree To Exchange CbC Reports

by Ulrika Lomas, Tax-News.com, Brussels

16 May 2016


On May 12, 2016, a further six countries signed the OECD's Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of country-by-country reports, bringing the total number of signatories to 39.

The new signatories are Canada, Iceland, India, Israel, New Zealand, and China.

The MCAA allows all signatories to bilaterally and automatically exchange CbC reports with each other, as contemplated by Action 13 of the BEPS Action Plan. It will help ensure that tax administrations obtain a complete understanding of how multinational corporations structure their operations, while also ensuring that the confidentiality of such information is safeguarded, the OECD said.

The signing ceremony took place at the meeting of the OECD's Forum on Tax Administration in Beijing, China.

TAGS: compliance | tax | investment | business | tax compliance | Iceland | India | tax avoidance | law | Organisation for Economic Co-operation and Development (OECD) | China | Israel | enforcement | agreements | multinationals | legislation | tax planning | transfer pricing | Canada | New Zealand | G20 | tax reform | standards | regulation | trade | European Union (EU) | Europe | Tax | BEPS

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