Agenda

ARRANGEMENT BETWEEN THE COMPETENT AUTHORITY OF THE UNITED STATES OF AMERICA AND THE COMPETENT AUTHORITY OF THE REPUBLIC OF TURKEY ON THE EXCHANGE OF COUNTRY-BY-COUNTRY REPORTS HAS BEEN SIGNED AS OF 21.11.2021

02/12/2021

Government of the United States of America and the Government of the Republic of Turkey desire to increase international tax transparency and improve access of their respective tax authorities to information regarding the certain indicators of the location of economic activity among tax jurisdictions in which multinational enterprise groups operate through the automatic exchange of annual country-by-country reports (“CbCR”).

 

According to the provisions of Article 26 of the Double Tax Treaty dated March 28, 1996 signed between the United States and Turkey for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, each competent authority intends to exchange with the other competent authority annually on an automatic basis the CbCR received from each reporting entity that is resident for tax purposes in its jurisdiction.

 

Competent Authorities may modify this arrangement by mutual written decision.

 

Full text of the announcement could be reached the from the link below;

https://www.irs.gov/pub/irs-utl/turkey-cbc-competent-authority-arrangement.pdf

 

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