Circular 2020/C/96 on the taxable basis of foreign movable income

automatic exchange of information

10 March 2016

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

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