Germany: Federal Cabinet approves CbC reports exchange agreement with US

10 November, 2022

On 4 November 2022, the German Upper House of Parliament (Bundesrat) approves bill No. 567/22 for consideration to ratify the competent authority agreement (CAA) on the exchange of country-by-country (CbC) reports with the US.

The competent authorities of Germany and the US have published annual joint which discloses that the US has agreed to exchange of CbC reports with Germany so that US companies may avoid local filing obligations in Germany. The latest statement covers reporting fiscal years beginning in 2020.

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