The U.S. IRS has published the non-reciprocal bilateral competent authority arrangement on the exchange of Country-by-Country (CbC) reports with the Cayman Islands. The arrangement was signed 8 March 2017 and is operative (effective) from that date. The arrangement provides that pursuant to the provisions of Article 6 (Automatic Exchange of Information) of the 2013 Cayman Islands-United States tax information exchange agreement, the Cayman Islands Competent Authority intends to exchange with the United States competent authority annually on an automatic basis the CbC Report received from each reporting entity that is resident for tax purposes in the Cayman Islands, provided that,...