According to an update from the OECD, Panama signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) on 24 January 2019, bringing the total number of signatories to 76. Panama's CbC reporting requirements have not yet been implemented, although the country is committed to implementation as a BEPS Inclusive Framework member and exchange under the CbC MCAA will be activated after implementation is completed.