The U.S. IRS has published the competent authority arrangement on the exchange of Country-by-Country (CbC) reports with Mexico. The arrangement was signed 19 October 2017 and is operative (effective) from that date.
The arrangement provides that pursuant to Article 4 (Exchange of Information) of the 1989 Mexico-U.S. tax information exchange agreement, as amended, each competent authority intends to automatically exchange CbC reports received from each reporting entity resident for tax purpo…