BEPS country-by-country reporting – seven more jurisdictions sign up
The Russian Federation was one of seven new jurisdictions to recently sign up to the Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA), bringing the total number of signatories to 57.
Gabon, Hungary, Indonesia, Lithuania, Malta, Mauritius also joined the agreement. Country by Country reporting is an outcome of Action 13 of the BEPS initiative and provides for the bilateral and automatic exchange of certain financial information relating to multinational companies. See the OECD’s website for further details.