The OECD announced that 31 countries signed the Multilateral Competent Authority Agreement for the automatic exchange of Country-by-Country (CbC) reports (MCAA) during a signing ceremony held 27 January 2016. Under the MCAA, signatories may exchange CbC reports with other signatories if they have CbC reporting requirements in place and are a party to the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters.
Meeting those conditions, however, does not mean any…