India's Central Board of Direct Taxes has issued Circular 7/2019 of 8 April 2019, which provides that constituent entities of U.S. MNEs are required to submit Country-by-Country (CbC) reports in India by 30 April 2019. The circular notes that although a CbC exchange agreement between India and the U.S. was signed on 27 March 2019, the procedures required for its activation have not yet been co…