The Organisation for Economic Cooperation and Development (OECD) today announced that Senegal has signed two tax agreements—(1) an agreement for mutual administrative assistance in tax matters, and (2) an agreement that will allow for the automatic exchange of country-by-country reports.
The OECD release reports that Senegal is the eleventh country of the African continent to sign the mutual assistance in tax matters agreement. This agreement provides for all forms of administrative assistance in tax matters—ranging from the exchange of information on request, to spontaneous exchange or automatic exchange, and includes tax examinations abroad, simultaneous tax examinations, and assistance in tax collection.
Senegal also signed the Multilateral Competent Authority Agreement, thus becoming the 32nd jurisdiction to agree to the automatic exchange of country-by-country reports. This agreement effectively implements Action 13 of the base erosion and profit shifting (BEPS) project.
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