OECD: Bermuda to Share BEPS Country-by-Country Reports

The OECD recently indicated that “Bermuda became the 33rd signatory of the Multilateral Competent Authority Agreement for the automatic exchange of Country-by-Country reports (CbC MCAA), which is based on Article 6 of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and puts in place the automatic exchange framework for exchanging Country-by-Country Reports, as contemplated by BEPS Action 13.”

On January 27, 2016, 31 countries signed the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports.

The first exchanges of information are expected to start in 2017/2018 with respect to 2016 MNE’s information.

The Text of the MCAA on the Exchange of Country-by-Country Reports is available here.

The Standardised electronic format for the exchange of BEPS Country-by-Country Reports is available here.

To this day, the Multilateral Competent Authority Agreement exclude some key players, among which Canada, Russia, China, Hong-Kong, India, Singapore, and the United States who have not yet signed the agreement.

These 33 countries have signed the agreement:

  • Australia;
  • Austria;
  • Belgium;
  • Bermuda;
  • Chile;
  • Costa Rica;
  • Czech Republic;
  • Denmark;
  • Estonia;
  • Finland;
  • France;
  • Germany;
  • Greece;
  • Ireland;
  • Italy;
  • Japan;
  • Liechtenstein;
  • Luxembourg;
  • Malaysia;
  • Mexico;
  • Netherlands;
  • Nigeria;
  • Norway;
  • Poland;
  • Portugal;
  • Senegal;
  • Slovak Republic;
  • Slovenia;
  • South Africa;
  • Spain;
  • Sweden;
  • Switzerland; and
  • United Kingdom.


Robert Robillard, Ph.D., CPA, CGA, Adm.A., MBA, M.Sc. Econ., M.A.P.
Senior Partner, DRTP Consulting Inc.
514-742-8086; robertrobillard “at” drtp.ca

The convergence of DRTP Consulting’s tax, accounting and economics expertise makes a difference. The information in this blog post is general information only. Data and information come from sources believed to be reliable but complete accuracy cannot be guaranteed. DRTP Consulting Inc. or the author are not responsible or liable for any error, omission or inaccuracy in such information. The opinions expressed in this blogpost are those of the author. Readers should seek advice and counsel from DRTP Consulting Inc. as required.

Posted by drtp On 25 April 2016