Competent Authority Arrangement for Exchange of CbC Reports between Bulgaria and the U.S. in Force

According to an update to the IRS Country-by-Country Reporting Jurisdiction Status Table on 11 March 2025, the competent authority arrangement with Bulgaria on the exchange of Country-by-Country (CbC) reports entered into force (became operative) on 9 September 2024.

The arrangement provides that pursuant to the provisions of Article 6 of 2007 Bulgaria-U.S. tax treaty, each competent authority intends to automatically exchange CbC reports received from each reporting entity resident for t…