On 27 March 2019 India and the United States signed an inter-governmental agreement on the exchange of country-by-country reports.(1) Under this agreement, both countries can exchange country-by-country reports pertaining to financial years commencing on or after 1 January 2016 which are filed by the ultimate parent entities of international groups in either jurisdiction. As a result of this agreement, Indian constituent entities of international groups which are headquartered in the United States and have already filed country-by-country reports in that jurisdiction do not have to file such reports in India.
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