58 jurisdictions that have required or authorized the submission of cbC reports for 2016, and currently 90 jurisdictions have a law introducing a cbC reporting obligation. In addition, there are more than 2,500 relationships between the legal systems for the exchange of CBC reports. This means that, for the most part, each MNE with a consolidated turnover of at least 750 million euros is already needed to submit a cbC report and that the remaining gaps are being filled. Each year, a set of peer reviews is published, which provides an overview of the implementation and operation of CBC reports by IF members. An exception applies to jurisdictions that have joined the IF after a specified date and to countries that have applied for exemption from peer review because they do not have resident entities that are required to file a cbC report and do not wish to receive cbC reports in exchange for local information or submissions. The OECD announced that 31 countries have signed the Multilateral Competent Authority Agreement for the automatic exchange of country (MCAA) at a signing ceremony on 27 January 2016. Under the MCAA, signatories may exchange cbC relationships with other signatories if they have cbC reporting obligations and are parties to the OECD Convention on Mutual Tax Assistance. The multilateral convention on mutual assistance in tax matters (the convention) obliges the competent authorities of the contracting parties to the Convention to agree on the scope of the automatic exchange of information and on the procedure to be followed. In this context, the CBC`s (CBC MCAA) multilateral agreement was developed on the basis of the agreement.

In addition, two other agreements have been developed for the exchange of cbC reports, one for exchanges under double taxation agreements and the other for exchanges under tax information exchange agreements. Overview of reporting obligations for cbC reports More than 60 member countries of the inclusive framework have introduced a cbC reporting requirement for MNE groups, which covers the fiscal year to 2016.