The Cyprus Tax Department has published a notice dated 5 October 2023 on the expected effective date of the agreement for the exchange of Country-by-Country (CbC) reports with the United States and local filing obligations. --- Clarification Bilateral Agreement between Cyprus and the United States The Cyprus Tax Department informs all legal entities and their representatives that the bilateral Competent Authority Arrangement (CAA) for the exchange of Country-by-Country (CbC Reports) between Cyprus and the United States of America which is currently under negotiation, is expected to be effective for Reporting Fiscal Years starting on or after 1 January 2023. Consequently,...