All agreements between the United States and our trading partners are available separately on the relevant authorities` agreements page. In August 2020, more than 2,500 bilateral exchanges were activated for jurisdictions that committed to exchange CBC reports, and the first automatic exchange of CBC reports took place in June 2018. These include exchanges between the 88 signatory states of the EU Competent Authority Convention, the CNC, between EU member states under the 2016/881/EU Directive and between signatories to bilateral agreements to exchange exchange agreements of competent authorities under double taxation agreements or exchange of tax information, including 41 bilateral agreements with the United States. Legal systems continue to negotiate CBC reporting agreements and the OECD will issue regular updates to clarify things for MNE groups and tax administrations. India has already signed the Multilateral Competent Authority Agreement (CI-APRÈS MCAA) for the exchange of CBCRs, which has allowed the exchange of CBCRs with 62 jurisdictions. Access to the CBCR through an international exchange mechanism was the preferred option for local submission for a number of reasons, which were primarily the fact that centralized data at the local level is not available to ensure cbCR compliance. In general, an Indian constituent unit (a foreign-based MNE group) is required to submit only an information document on the privacy of the parent unit or alternative reporting unit in Form 3CEAC. Subsequently, the Indian authorities source CBCR through the information exchange mechanism. On March 15, 2019, the Indian Ministry of Finance (MOF) issued a press release on the conclusion of an agreement by the competent authority (CAA) with the United States on the exchange of national reports (CBC) to be signed by the two countries by March 31. A practical question arises for countries that wish to exchange cbC reports within the framework of the Multilateral Convention on Mutual Tax Assistance (the Convention) but have not been in force for the first reference year (as of 1 January 2016). This affected the ability of these legal systems to exchange cbc reports and, in some cases, could have led to a local bid for the MNE groups. Legal systems and the OECD have worked hard to find solutions to tackle this problem and allow the exchange of cbc reports on the first reference year.

The India Central Board of Direct Taxes (CBDT) today issued a press release announcing that representatives of the governments of India and the United States had reached an agreement (a bilateral agreement on the competent authority at the same time as an intergovernmental agreement) to allow the exchange of country reports (CBC). The agreement is expected to be signed before or before March 31, 2019. The Indian Ministry of Finance has announced the signing of an Intergovernmental Agreement (IGA) for the Exchange of National Relations (CBC) with the United States.