According to an update from the OECD, Papua New Guinea signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) on 14 March 2023. Papua New Guinea implemented CbC reporting requirements from 1 January 2017 for MNE groups with consolidated annual group income of PGK 2.3 billion or more in the previous year. Local filing requirements for non-parent constituent entities are also provided for but have been suspended until further notice.