The OECD today reported that Bermuda, Curaçao, Hong Kong, and Liechtenstein have announced new bilateral exchange relationships with other countries for the exchange of country-by-country reports on multinational groups.
The country-by-country reports will be collected by countries and exchanged between them under a scheme devised in 2015 as a result of the base erosion profit shifting (BEPS) plan. The scheme is designed help tax authorities determine if appropriate taxes are paid by the multinationals that operate in their countries.
The exchanges will be in accord with the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports, the OECD said.
A listing of all the activated exchange relationships for country-by-country reporting in all countries can be found on the OECD website.
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