Swiss Federal Council Adopts Dispatch on Exchange of CbC Reports

On 23 November 2016, the Swiss Federal Council adopted the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) and the Federal Act on the International Automatic Exchange of Country-by-Country Reports of Multinationals. If Parliament approves the proposal and a referendum is not held, the CbC MCAA and the Federal Act could enter into force at the end of 2017. As such, MNE groups operating in Switzerland will be required to submit CbC reports fro…