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Seven more jurisdictions sign tax co-operation agreement

Staff Writer | January 28, 2017
Lithuania, Gabon, Hungary, Indonesia, Malta, Mauritius and the Russian Federation – have signed a tax co-operation agreement.
Tax co-operation agreement
Taxes   Automatic sharing of country-by-country information
The Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA) is to enable automatic sharing of country-by-country information.

The CbC MCAA, which aims to boost transparency by multinational enterprises (MNEs), allows signatories to bilaterally and automatically exchange country-by-country reports, as part of Action 13 of the base erosion and profit shifting (BEPS) Action Plan.

The agreement helps ensure that tax administrations obtain a better understanding of how MNEs structure their operations, while also ensuring that the confidentiality and appropriate use of such information is safeguarded.