The U.S. IRS has published the competent authority arrangement on the exchange of Country-by-Country (CbC) reports with Portugal. The arrangement was signed 2 October 2017 and is operative (effective) from that date.
The arrangement provides that pursuant to Article 28 (Exchange of Information) of the 1994 Portugal-U.S. income tax treaty, each competent authority intends to automatically exchange CbC reports received from each reporting entity resident for tax purposes in its jurisdiction, …