<h1>India Joins Global Pact for Automatic Exchange of Country-by-Country Reports to Combat Tax Evasion and Profit Shifting.</h1> The government has signed the Multilateral Competent Authority Agreement (MCAA) for the automatic exchange of Country-by-Country (CbC) Reporting. This agreement, developed by the OECD, aims to facilitate the sharing of CbC Reports filed by Multinational Enterprises to combat Base Erosion and Profit Shifting (BEPS). The CbC Reports will provide essential information for assessing transfer pricing risks and selecting audit cases, helping to prevent profit shifting. India signed the MCAA on May 12, 2016, and will begin exchanging reports in 2018. As of now, 57 countries, including recent signatories like Russia, Mauritius, Indonesia, and Gabon, have joined the agreement.