On 22 December 2017, Guernsey and Jersey signed a bilateral competent authority agreement on the exchange of Country-by-Country (CbC) reports. The agreement is effective from the date it was signed. The agreement provides that pursuant to Article 24 (Exchange of Information) of the 2013 Guernsey-Jersey tax treaty, each Competent Authority will annually exchange on an automatic basis the CbC Report received from each reporting entity that is resident for tax purposes in its jurisdiction with the other competent authority, provided that, on the basis of the information provided in the CbC report, one or more constituent entities of the MNE...