The OECD announced that 31 countries signed the Multilateral Competent Authority Agreement for the automatic exchange of Country-by-Country (CbC) reports (MCAA) during a signing ceremony held 27 January 2016. Under the MCAA, signatories may exchange CbC reports with other signatories if they have CbC reporting requirements in place and are a party to the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters. Meeting those conditions, however, does not mean any signatory will automatically exchange CbC reports with another. This is because when signing the CbC MCAA, the signatory must address to the OECD Secretariat either (i) a...