'Gatca' Information Exchanges Agreement Signed
51 countries on board with information exchange standard to launch in 2017
Last week, at a meeting in Berlin, 51 Organization for Economic Co-operation and Development and Group of 20 countries endorsed a standard for the automatic exchange of tax-related information across borders. The co-operative initiative is aimed at reducing tax evasion in countries from Singapore to France.
The countries signed a Multilateral Competent Authority Agreement that will see the first information exchanges launched by September 2017. The dates had previously been uncertain.
The Global
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