ATHENS: The US IRS announced this week that it has signed separate agreements with the Czech Republic, Finland, Greece, Italy, and Sweden to exchange country-by-country reports on multinationals.
The bilateral competent authority agreements would help put into effect 2015 OECD/G20 base erosion profit shifting (BEPS) plan agreements designed to give tax authorities a better picture of the tax affairs of multinational firms.
The reports will help tax authorities assess whether there is a risk that a multinational firm is not paying the correct amount of tax through improper transfer pricing or through other means.
