OECD Updated The List of Countries Which Activated Exchange of Country-By-Country Reporting (CbCR) Information With Turkey

As known, Presidential Decree No. 2151, which was published in the Official Gazette dated 25.02.2020 made significant changes in the transfer pricing legislation. In this scope, Master File and Country-by-Country Reporting ("CbCR") obligations were imposed in addition to the local transfer pricing report ("local file") within the framework of the three-stage transfer pricing documentation adopted within the scope of OECD BEPS. Our explanations on the subject were included in the Guide we prepared in the form of a Question and Answer.

After Presidential Decree No.2151, Presidential Decree no. 3038 was published in the Official Journal dated 10/1/2020, having the effect of the approval of the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports ("Competent Authority Agreement") which was signed by the Republic of Turkey in Ankara on 30.12.2019. Thus, country-by-country reports prepared by the relevant taxpayers and submitted to Turkish Tax Administration can be exchanged with the other countries. (Click here for our International Bulletin on this subject)

Most recently, OECD updated the information on the countries which exchange CbCR information with each other on its official website. Accordingly, Turkey activated CbCR exchange process for 38 countries which will receive information. Besides that, Turkey will receive CbCR information from 48 countries, effective for financial periods starting on 01.01.2019 or later.

The list of the relevant countries can be accessed on this link.  Here is the list of 38 countries which will receive CbCR information from Turkey and 48 countries which convey information to Turkey:

Kind regards.