Today, at the OECD Headquarters in Paris, H.E. Maurice Kouakou Bandaman, Ambassador Extraordinary and Plenipotentiary of the Republic of Côte d’Ivoire to France and Monaco, signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention), marking a key milestone as the total number of participating jurisdictions reaches 150.
By today's signing, Côte d’Ivoire joins the world’s widest-reaching international treaty for international tax co-operation and exchange of information and further strengthens the reach of the Convention in Africa. The signing will pave the way for Côte d’Ivoire to engage in the exchange of information with 149 other jurisdictions, including all major financial centres. These exchange relationships will be added to the over 8000 exchange relationships already in place under the Convention.
L-R: Ms Fabrizia Lapecorella – Deputy Secretary-General SGE/OECD, H.E. Maurice Kouakou Bandaman – Ambassador of the Republic of Côte d’Ivoire to France and Monaco.
The Convention enables jurisdictions to engage in a wide range of mutual 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 is the primary instrument for swift implementation of the Standard for Automatic Exchange of Financial Account Information in Tax Matters (the Common Reporting Standard or CRS). The CRS, developed by the OECD and G20 countries, enables more than 125 jurisdictions to automatically exchange offshore financial account information.
Beyond the exchange of information on request and the automatic exchange pursuant to the Standard, the Convention is also a powerful tool in the fight against illicit financial flows and is a key instrument for the implementation of the transparency standards of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project.
- View the 150 jurisdictions participating in the Convention
For further information, please contact the OECD Centre for Tax Policy and Administration: ctp.communications@oecd.org
See more photos: https://www.flickr.com/photos/oecdtax/albums/72157672898437515/
