On 22 March 2016, the OECD announced the release of the standardized electronic format for the exchange of Country-by-Country (CbC) reports between jurisdictions. The release includes the CbC XML Schema, which is used for the electronic exchange of reports, and the associated user guide, which explains the information required to be included in each data element to be reported. The CbC XML Schema can also be used by reporting entities to submit CbC reports if their jurisdiction of filing requ…