Bermuda and Guernsey have signed a non-reciprocal bilateral competent authority agreement on the exchange of Country-by-Country (CbC) Reports on 19 February 2019 and 26 March 2019, respectively.  The agreement will come into effect on the date Bermuda has provided notification that it has the necessary laws in place to require reporting entities to file a CbC Report (already in place). The agreement provides that the Bermuda Competent Authority will annually exchange with the Guernsey Competent Authority on an automatic basis the CbC Report received from each Reporting Entity that is resident for tax purposes in Bermuda, provided that, on the basis...