According to an update to the IRS Country-by-Country Reporting Jurisdiction Status Table, Hungary and the U.S. have signed a competent authority arrangement on the exchange of Country-by-Country (CbC). The signature date and operative (effective) date were not yet published at the time of writing, although it is expected that the arrangement will apply from the 2017 reporting fiscal year. Note - An initial agreement on the exchange of CbC reports was signed on 25 October 2018 ({News-2018-11-27/T/6-previous coverage}), although exchange under the agreement will not commence until the competent authority arrangement is operative.