Cyprus has ratified the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA), with the ratification published in the Official Gazette on 26 June 2026, bringing the total number of signatories to 36 jurisdictions.

RF Report

Cyprus has ratified the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA), with the ratification published in the Official Gazette on 26 June 2026.

Having signed the agreement on 12 May 2026, Cyprus joins the framework for the automatic exchange of GloBE Information Return (GIR) data between tax authorities.

The GIR MCAA is intended to reduce compliance burdens for multinational enterprise (MNE) groups by enabling the centralised filing of GloBE Information Returns.

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 groundbreaking 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 enterprises pay a minimum level of tax on the income arising in each of the jurisdictions where they operate.

As of now, 36 countries and jurisdictions have signed the agreement.