Source: Kinga Warda¸ PKF Malta¸ May 2013

The OECD confirmed that more and more jurisdictions signed or committed to signing the Convention on Mutual Administrative Assistance in Tax Matters.[1]

As of 27 May 2013¸ there were 46 signatories to the Convention (among them Malta). For updates version of the list of the signatories¸ please click here.

The OECD and the Council of Europe developed a Protocol amending the multilateral Convention on Mutual Administrative Assistance in Tax Matters to bring it in line with the international standard on exchange of information for tax purposes. The idea is to open it up to all countries¸ including a number of developing ones.

The Convention aims to facilitate co-operation between states in tax matters¸ in respect to the fundamental rights of taxpayers. It postulates for more efficient exchange of information and collaboration between countries to fight with tax avoidance and evasion.

[1] The convention was developed by the Council of Europe and the OECD and opened for signature by the member states of both organisations on 25 January 1988.