Guernsey and the UK have signed a bilateral competent authority agreement on the exchange of Country-by-Country (CbC) reports. The agreement was signed by the UK on 24 November 2017 and by Guernsey on 29 November and comes into effect on the date of the later of the notifications provided by each competent authority that its jurisdiction has the necessary laws in place to require reporting entities to file a CbC report (both already have CbC reporting requirements in place). The agreement provides that pursuant to Article 5A (Automatic Exchange of Information) of the Guernsey-UK tax information exchange agreement, as amended,...