anti-tax avoidance package

EU Member States reach agreement on mandatory automatic exchange of financial information on country-by-country reporting (CbCR)

10 March 2016

On 8 March 2016, the Member States of the European Union reached a political agreement on the automatic exchange of country-by-country reporting (CbCR) at a meeting of the Ministers of Economic and Financial Affairs in Brussels. The CbC reports contain tax-related financial information of multinational companies. The agreement is, however, still subject to the scrutiny

Enhanced transparency for multinational enterprises: Multilateral agreement enabling automatic sharing of Country-by-Country reports signed

29 January 2016

31 countries signed the Multilateral Competent Authority Agreement (MCAA) on 28 January 2016, which will bring greater sharing of information in international tax matters. The MCCA provides for the automatic exchange of Country-by-Country reports, enabling tax administrations to obtain a complete understanding of how multinational enterprise operations are structured across the value chain, while ensuring