Process Of Negotiating A Bilateral Competent Authority Arrangement (CAA) For The Exchange Of Country-By-Country Reports Between Cyprus And The United States Of America

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Elias Neocleous & Co LLC

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Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
The negotiations' status is also indicated in the IRS' website.
Cyprus Tax

On 20th of June 2019, Cyprus tax authorities announced that negotiations between Cyprus and USA are being conducted with a view to conclude a bilateral Competent Authority Arrangement ("CAA") for the exchange of Country-by-Country reporting between Cyprus and the USA.

The negotiations' status is also indicated in the IRS' website.

Elias Neocleous & CO LLC will keep monitoring the progress of this matter and will publish updates and bulletins on its website for any important updates.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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