On September 2017, the OECD released Country-by-Country Reporting: Handbook on Effective Tax Risk Assessment, which provides tax authorities with guidance on ways to incorporate information obtained under CbC reporting into their tax risk assessment processes, the types of tax risk indicators that may be identified using CbC reports, and the challenges that may arise in the process. In this article, the authors outline the key elements provided in this report, illustrate with a practical example how tax authorities may use CbC reporting information to supplement their existing tax risk assessment and discuss the consequences thereof.