Luxembourg has today signed a protocol to its double taxation convention with Denmark. The protocol, which allows exchange of bank information for tax purposes, brings the convention up to the OECD standard.
Luxembourg has signed an agreement for the exchange of bank information on request in all tax matters with the U.S., marking a major step forward in international efforts to counter tax evasion.
Bermuda has signed 8 new tax information exchange agreements, with seven Nordic economies – Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, and with New Zealand, bringing to 11 the number of such agreements it has entered into.
The OECD welcomes recent commitments to the internationally agreed tax standard on exchange of information made by Costa Rica, Malaysia, Philippines and Uruguay.
The OECD welcomed today the formal endorsement by Uruguay of its tax information exchange standards.
Following the G20 meeting and communiqué, the OECD has provided a detailed report on progress by financial centres around the world towards implementation of an internationally agreed standard on exchange of information for tax purposes.
The Cayman Islands has signed bilateral agreements with seven Nordic economies - Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden - on exchange of information for tax purposes.
OECD Secretary-General Angel Gurría welcomed an announcement by Monaco that it is prepared to enter into agreements for the exchange of information in all tax matters in accordance with international standards developed by the OECD and recognised by the United Nations.
The OECD welcomed an announcement by Macao, China that it intends to implement the OECD standards on transparency and exchange of information for tax purposes.