03/10/2019 - Today, at the OECD Headquarters in Paris, Biljana Peranović, Director General of the Directorate for Tax and Customs of Montenegro, signed the multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention). Montenegro is the 130th jurisdiction to join the Convention. The Convention enables jurisdictions to engage in a wide range of mutual assistance in tax matters: exchange of information on request, spontaneous exchange, automatic exchange, tax examinations abroad, simultaneous tax examinations and assistance in tax collection. It guarantees extensive safeguards for the protection of taxpayers' rights.
L-R: Gita Kothari (Advisor, OECD Legal Department), Paul Hondius (Advisor, OECD Centre for Tax Policy and Administration), Grace Perez-Navarro (Deputy-Director, OECD Centre for Tax Policy and Administration), Biljana Peranović (Director General, Directorate for Tax and Customs of Montenegro), Milica Djurickovic (First Secretary of the Embassy of Montenegro).
The Convention is the primary instrument for swift implementation of the Standard for Automatic Exchange of Financial Account Information in Tax Matters (CRS). The CRS – developed by the OECD and G20 countries – enables more than 100 jurisdictions to automatically exchange offshore financial account information.
Beyond the exchange of information on request and the automatic exchange pursuant to the Standard, the Convention is also a powerful tool in the fight against illicit financial flows and is a key instrument for the implementation of the transparency standards of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project.
View the 130 jurisdictions participating in the Convention: www.oecd.org/tax/exchange-of-tax-information/Status_of_convention.pdf