On October 21, 2016 the OECD issued a press release announcing that another 5 countries have signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports ("CbC MCAA"). With these 5 countries the total number of signatories comes to 49.
According to the OECD, the 5 countries that signed the CbC MCAA on October 21, 2016 are:
· Brazil;
· Guernsey;
· Jersey;
· the Isle of Man; and
· Latvia.
The CbC MCAA allows all signatories to bilaterally and automatically exchange Country-by-Country Reports with each other, as contemplated by Action 13 of the BEPS Action Plan.
Click here to be forwarded to the CbC MCAA as available on the website of the OECD, which will open in a new window.
Click here to be forwarded to an overview of the 49 signatories of the CbC MCAA as available on the website of the OECD, which will open in a new window.
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