The US and Croatia on July 10 signed a competent authority agreement providing for the exchange country-by-country reports on large multinationals, the US IRS has announced.
The agreement implements a deal struck by countries in 2015 resulting from the OECD/G20 base erosion profit shifting (BEPS) plan.
The country-by-country data exchange will give tax authorities in the US and Croatia greater insight into the activities of multinationals operating within their borders to allow them to assess whether there is a risk that MNEs might be engaging in tax avoidance through transfer pricing or other means.
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