UGANDA yesterday signed
the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
It is the 8th country of the African continent to sign the Convention and
the 90th jurisdiction to join it.
The Convention provides for all forms of administrative 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.
The Convention was developed jointly by the OECD and the Council of Europe
in 1988 and amended in 2010 to respond to the call by the G20 to align it to
the international standard on exchange of information and to open it to all
countries, thus ensuring that developing countries could benefit from the new
more transparent environment.
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