According to a release from the Italian Department of Finance, a bilateral competent authority arrangement for the exchange of Country-by-Country (CbC) reports was signed with the U.S. on 27 September 2017. The release notes that the arrangement applies for fiscal years beginning on or after 1 January 2016, including for the purpose of CbC reports voluntarily filed in the U.S. in respect of fiscal years beginning before 30 June 2016. The arrangement was not yet published at the time of writing, but will likely be published on the U.S. IRS Country-by-Country Reporting Jurisdiction Status Table in the near future.