The purpose of the CbC MCAA is to set forth rules and procedures as may be necessary for Competent Authorities of jurisdictions implementing BEPS Action 13 to automatically exchange CbC Reports prepared by the Reporting Entity of an MNE Group and filed on an annual basis with the tax authorities of the jurisdiction of tax residence of that entity with the tax authorities of all jurisdictions in which the MNE Group operates.
Today, the OECD published a new set of bilateral exchange relationships established under the Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA), bringing the total number of relationships to over 3200, an increase of more than 500 since April of this year.
The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) published today nine peer review reports assessing compliance with international standards on tax transparency.
The Inclusive Framework welcomes The Bahamas and Zambia, bringing to 110 the total number of countries and jurisdictions participating on an equal footing in the Project.
The OECD welcomes the decision by The Bahamas to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which was formally communicated to the OECD in a letter from The Bahamas’ Minister of Finance, the Hon Kevin P. Turnquest MP, on Monday 29 May 2017.
Bilateral Agreements that have been signed to establish exchange of information for tax purposes.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.
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Agreement between Germany and Bahamas for the exchange of information relating to tax matters
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Agreement between Australia and the Bahamas for the exchange of information relating to tax matters