On 28 May 2019, the Saudi Cabinet authorized the signature of the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA). Saudi Arabia has introduced CbC reporting requirements for years ending on or after 31 December 2018, including standard secondary local filing requirements for non-parent constituent entities resident in Saudi Arabia. It is not certain how the local filing requirements will be enforced, but the signing of the CbC MCAA should al…