Morocco has signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports, becoming the 79th country to join the agreement, the OECD today announced.
Signing the agreement will allow Morocco to implement transfer pricing reporting standards developed under Action 13 of the 2015 OECD/G20 base erosion profit shifting (BEPS) Action Plan, the OECD said.
The country-by-country reporting system allows country tax administrations to obtain and exchange information about multinationals. This allows ax administrations to more easily determine if there is a risk that multinationals operating in their country are avoiding tax through inappropriate transfer pricing or other means.
Morocco also signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information, designed to help countries tackle tax evasion and avoidance. Morocco is the 106th signatory.
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