According to an update to the IRS Country-by-Country Reporting Jurisdiction Status Table on 11 March 2025, the competent authority arrangement with Bulgaria on the exchange of Country-by-Country (CbC) reports entered into force (became operative) on 9 September 2024. The arrangement provides that pursuant to the provisions of Article 6 of 2007 Bulgaria-U.S. tax treaty, each competent authority intends to automatically exchange CbC reports received from each reporting entity resident for tax purposes in its jurisdiction, provided that, on the basis of the information provided in the CbC report, one or more constituent entities of the MNE group of the reporting...