Global cooperation to fight tax evasion and avoidance has grown rapidly over the past few years. Tax Transparency and Exchange of Information between tax authorities about financial assets and activities of their taxpayers abroad has proved to be a valuable tool in this fight.
Ecuador today signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 126th jurisdiction to join the world’s leading instrument for boosting transparency and combating cross-border tax evasion. The Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS MCAA) was also signed.
The OECD is pleased to announce that jurisdictions are taking further action to prevent the misuse of RBI/CBI schemes by account holders by putting in place an exchange of information mechanism that will ensure that the information on applicants of RBI/CBI schemes will be made available to their jurisdiction(s) of tax residence.
Since the release of the guidance, Monaco has provided additional information with respect to its residence and migration requirements confirming that information on relevant applicants is exchanged with all existing jurisdictions of residence.
As part of its work to preserve the integrity of the CRS, the OECD has published the results of its analysis of over 100 CBI/RBI schemes offered by CRS-committed jurisdictions, identifying those schemes that potentially pose a high-risk to the integrity of CRS.
Antigua and Barbuda today signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. It is the 125th jurisdiction to join the Convention.
The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum), published today seven peer review reports assessing compliance with the international standard on tax transparency and exchange of information on request (EOIR).
Today, the OECD published a new set of bilateral exchange relationships established under the Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA), bringing the total number of relationships to over 3200, an increase of more than 500 since April of this year.
The Former Yugoslav Republic of Macedonia today signed the multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 124th jurisdiction to join the world’s leading instrument for boosting transparency and combating cross-border tax evasion.
Kazakhstan today became the 102nd jurisdiction to sign the OECD's Multilateral Competent Authority Agreement for the Common Reporting Standard (CRS MCAA).