Executive summary
On 22 December 2019, Bahrain signed the Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbCR MCAA). The CbCR MCAA is a multilateral framework agreement that provides a standardized and efficient mechanism to facilitate the bilateral automatic exchange of Country-by-Country (CbC) reports. Bahrain can now be expected to introduce a domestic legal framework for CbCR.
Detailed discussion
As a member jurisdiction of the Inclusive Framework of the Organisati…