On 9 February 2023, the German Bundestag (lower house of parliament) approved the law for the ratification of the pending agreement with the U.S. for the exchange of Country-by-Country (CbC) reports. The agreement was signed on 14 August 2020 and will enter into force once Germany has notified the U.S. that it has completed all necessary internal procedures for the agreement's entry into force. However, the exchange of information under the agreement will not commence until a competent authority arrangement for exchange becomes operative. Note that the competent authorities of Germany and the U.S. have issued annual joint statements under...