The OECD has reported further progress on the GloBE framework, with Barbados, Cyprus, the Czech Republic and Romania joining the GIR MCAA, bringing total signatories to 36 as the system expands to support automatic tax data exchange and reduce compliance burdens for multinational groups.
The OECD announced that the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) was signed by Barbados and Cyprus on 12 May 2026, by the Czech Republic on 11 May 2026, and by Romania on 9 April 2026.
A key part of the OECD/G20 BEPS Project is addressing the tax challenges arising from the digitalisation of the economy. In October 2021, over 135 jurisdictions joined a ground breaking plan to update key elements of the international tax system which is no longer fit for purpose in a globalised and digitalised economy. The Global Anti-Base Erosion Rules (GloBE) are a key component of this plan and ensure large multinational enterprise pay a minimum level of tax on the income arising in each of the jurisdictions where they operate.
The GIR MCAA is designed to support the automatic exchange of GloBE Information Return (GIR) data between tax authorities and to reduce compliance costs for multinational enterprise (MNE) groups, as they can centrally file their GIR.
As of now, 36 countries and jurisdictions have signed the agreement.
