|
|
 |
|
 |
| |
|
OECD opens updated multilateral tax convenion to all countries
By TII News Service
Jun 02, 2011 , Paris |
  |
THE OECD has announced that the new amendments
to the Multilateral Convention on Mutual Administrative Assistance in Tax
Matters open the Convention to all countries, allowing them to benefit
from cross border tax co-operation and information sharing. This takes
place at the time when the Global Forum on Transparency and Information
Exchange for Tax Purposes is meeting in Bermuda to advance the implementation
and peer review process for a transparent tax environment.
The updated Convention, which incorporates internationally agreed standards
for exchange of information in tax matters, is the most comprehensive multilateral
instrument available for tax co-operation. Like the original 1988 Convention,
it provides a wide range of tools for cross-border tax co-operation including
exchange of information, multilateral simultaneous tax examinations, service
of documents, and cross-border assistance in tax collection, while imposing
extensive safeguards to protect the confidentiality of the information exchanged.
Last year 20 countries have signed the amended Convention and more,
including both OECD and non-OECD, developing and developed countries, are
expected to follow shortly. Sweden deposited its instrument of approval on
27 May 2011. Poland is the latest Party to the amended Convention, having
deposited its instrument of ratification on 31 May 2011.
|
| |
|
|
|
 |
|
 |
|
