According to an update to Hong Kong's Country-by-Country (CbC) reporting guidance page on 7 September 2020, a bilateral arrangement has been entered into with Russia for the automatic exchange of CbC reports. The arrangement serves as an interim solution for the exchange of CbC reports for the 2017 and 2018 reporting fiscal years. For reporting fiscal years beginning on or after 1 January 2019, exchange is provided under the CbC Multilateral Competent Authority Agreement.