OECD Adds 5 More Countries To Its CbC Automatic Exchange Agreement

On June 30, the Organization for Economic Co-operation and Development (OECD) announced that 5 new countries have signed the Multilateral Competent Authority Agreement for the automatic exchange of country-by-country (CbC) reports (CbC MCAA), which facilities the exchange of certain confidential transfer pricing information recommended under Action 13 of the G20/OECD project to target base erosion and profit shifting (BEPS). It brings the total number of signatories to 39 countries.

The 5 countries are:

1. Argentina;
2. Curacao;
3. Georgia;
4. Korea; and
5. Uruguay.

First automatic exchanges of information will start in 2017-2018 on 2016 information.

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