The IRS reported that the India-U.S. agreement on the exchange of country-by-country reports entered into force and applies from 29 April 2019. The agreement was signed based on article 28 (exchange of information and administrative assistance) of the India-US income tax treaty. The Indian and U.S. competent authorities signed a competent authority arrangement on the exchange of CbC reports, which also applies from 29 April 2019.