Canada, Five Others to Exchange Country-by-Country Data

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By Kevin A. Bell

May 12 — Canada, China and four other countries will exchange country-by-country tax reports with other nations after signing a multilateral information-sharing agreement with the OECD, bringing the total number of countries signing the agreement to 39.

Canada, Iceland, India, Israel, New Zealand and China signed the multilateral competent authority agreement for the automatic exchange of country-by-country reports during a May 12 meeting of the Forum on Tax Administration in Beijing, the Organization for Economic Cooperation and Development said in a news release.

The agreement implements the OECD's recommendations for new tax disclosure rules, developed under its sweeping plan to combat tax base erosion and profit shifting.

The country-by-country reports are designed to help tax administrations assess risk by requiring companies to file a global blueprint of their operations, including factors such as number of employees, income and amount of taxes paid in each country of operation.

The OECD said the multilateral agreement will help ensure that tax administrations obtain a complete understanding of how multinational enterprises structure their operations, while also ensuring that the confidentiality of such information is safeguarded.

The U.S. has not signed the agreement; officials have said they will exchange information through bilateral information-sharing agreements.

39 Signatories

The 39 signatories to the agreement are Australia, Austria, Belgium, Bermuda, Canada, Chile, China, Costa Rica, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, India, Ireland, Israel, Italy, Japan, Liechtenstein, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Nigeria, Norway, Poland, Portugal, Senegal, the Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland and the U.K.

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To contact the editor responsible for this story: Molly Moses at