OECD: More countries agree to mutual tax matters assistance

More countries agree to mutual tax matters assistance

The Organisation for Economic Cooperation and Development (OECD) today announced that representatives of the governments of Burkina Faso, Malaysia, Saint Kitts and Nevis, Saint Vincent and the Grenadines, and Samoa signed an agreement (convention) for mutual administrative assistance in tax matters.

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According to today’s OECD release, the number of participating jurisdictions is currently 103 countries or jurisdictions. The OECD also announced that Andorra, Saint Kitts and Nevis, and Senegal have deposited their instruments of ratification of the agreement today and that the convention will enter into force in each of these jurisdictions on 1 December 2016.

The convention was developed under an international standard on the exchange of information, and is used in boosting transparency and combating offshore tax evasion and avoidance. The convention also serves as the premier instrument for implementing a standard for the automatic exchange of financial information in tax matters.

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