On 30 June 2016, officials from Argentina, Curacao, Georgia, South Korea, and Uruguay signed the Multilateral Competent Authority Agreement (MCAA) for the exchange of Country-by-Country (CbC) reports during the first meeting of the inclusive framework for the implementation of BEPS measures held in Kyoto, Japan. The signing brings the total number of signatories to 44.
As part of the conditions for signing the CbC MCAA, signatories must be a party to the OECD Council of Europe Convention on Mutual Administrative Assistance in Tax Matters and have (or commit to introduce) CbC reporting requirements. South Korea has already announced its intention to implement CbC reporting requirements from 1 January 2017, while the other new signatories are expected to announce their CbC reporting plans in the near future.
Click the following link for the list of the CbC MCAA signatories to date.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.