BEPS Action 13: 31 Countries Set To Exchange CbC Reports

31 countries have now signed a multilateral competent authority agreement (MCAA) enabling the automatic exchange of country-by-country reports (CbC reports) and addressing BEPS action 13.

31 countries have now signed a MCAA enabling the automatic exchange of CbC reports from each reporting entity between the competent authorities.

The agreement handles the exchange of CbC reports as stated in BEPS action plan 13. This action plan has amended Chapter V of the transfer pricing guidelines of the OECD. The guidelines are soft law and as such, OECD member countries are encouraged to follow these guidelines in their domestic transfer pricing practices.

CbC reporting is also part of the EU anti-tax avoidance package, which was proposed by the European Commission on 27 January 2016 and is tabled for political agreement by ECOFIN on 25 May 2016.