The U.S. IRS has published the competent authority arrangement on the exchange of Country-by-Country (CbC) Reports with Israel. According to the IRS CbC Reporting Jurisdiction Status Table, the arrangement was signed on 16 August 2023 and is operative from that date. The arrangement provides that pursuant to the provisions of Article 29 (Exchange of Information) of the 1975 U.S.-Israel tax treaty, each competent authority intends to automatically exchange CbC reports received from each reporting entity resident for tax purposes in its jurisdiction, provided that, on the basis of the information provided in the CbC report, one or more constituent entities...