Maltese Minister John Dalli added: “It is essential that the agreement becomes the international standard. In its introduction, the exchange agreement recognizes that it is “important that financial centres around the world comply with the standards for the exchange of tax information set out in this document.” It encourages as many savings as possible to participate in this important undertaking and notes that it is not in the interests of the participating economies that “the implementation of the standards contained in this agreement should lead to a migration of businesses to economies that do not participate in the exchange of information.” OECD members and promised jurisdictions will engage in an ongoing dialogue to work towards this goal. “www.oecd.org/tax/automatic-exchange/about-automatic-exchange/CbC-MCAA-Signatories.pdf bilateral TIEA are agreements between governments (tax administrations) of two legal orders that allow them to exchange tax information on request. For more information, journalists are encouraged to contact the OECD`s Media Relations Division (tel. [33] 45 24 97 00). These legal systems recognize that it is by adopting a common approach to the automatic exchange of information that offshore tax evasion is most effective, while minimizing costs to governments and financial institutions. Information on the relevant legal systems can be found in the status summary and in the timetable of the parties to the OECD Multilateral Convention. The aim of this agreement is to promote international cooperation in tax matters through the exchange of information. It was developed by the OECD Global Forum Working Group on Effective Information Exchange.

Bilateral TIEAs were ordered in alphabetical order by jurisdiction for a simple reference. You will find information about the laws concerned in the statute table. “I am very pleased that this framework has not only been a successful instrument of dialogue, but has also achieved concrete results that members and non-members can use both to improve tax cooperation,” said Mr.