Joint Statement between the U.S. and France Published on the Spontaneous Exchange of CbC Reports for 2019

The U.S. IRS published the joint statement from the competent authorities of the U.S. and France on the implementation of the spontaneous exchange of country-by-country (CbC) reports for fiscal years beginning in 2019. Such joint statements were made for 2016, 2017, and 2018 as well.

The joint statement provides that CbC Reports for fiscal years of MNE Groups commencing on or after 1 January 2019 and before 1 January 2020 that are filed with the U.S. IRS will be spontaneously exchanged with…