On 10 October 2018, the government of Andorra approved the signing of the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA). Once signed, the CbC MCAA will need to be activated in respect of Andorra for effective exchange to take place with other signatories to the agreement. Andorra's CbC reporting requirements apply for reporting fiscal years beginning on or after 1 January 2018 for MNE groups meeting the standard EUR 750 million consolidated group revenue threshold ({News-2018-06-20/A/2-previous coverage}).