Press Release: A boost to transparency in international tax matters: 31 countries sign tax co-operation agreement to enable automatic sharing of country by country information

As part of continuing efforts to boost transparency by multinational enterprises (MNEs), 31 countries signed on the 27 January 2016 the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country reports. The signing ceremony marked an important milestone towards implementation of the OECD/G20 BEPS Project and a significant increase in cross-border cooperation on tax matters.

The OECD/G20 BEPS Project set out 15 key actions to reform the international tax framework and ensure that profits are reported where economic activities are carried out and value created. BEPS is of major significance for developing countries due to their heavy reliance on corporate income tax, particularly from MNEs.

• Primary Source

ESO: Background information: Meeting: Economic and Financial Affairs Council, 8 December 2015 http://www.europeansources.info/record/meeting-economic-and-financial-affairs-council-8-december-2015/

ESO: Background information: Fighting Tax Avoidance: Commissioner Moscovici welcomes final adoption of international tax reform package http://www.europeansources.info/record/statement-fighting-tax-avoidance-commissioner-moscovici-welcomes-final-adoption-of-international-tax-reform-package/

The Conversation, 26.01.16: If you want Google to pay more tax, change the law https://theconversation.com/if-you-want-google-to-pay-more-tax-change-the-law-53669

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