According to an update from the OECD, Gibraltar signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) on 7 May 2020, bringing the total number of signatories to 85. Gibraltar's CbC reporting requirements apply for financial years beginning on or after 1 January 2016 for MNE groups with consolidated annual revenue equal to or exceeding EUR 750 million in the previous year (from 2017 for non-resident parented groups).