The Organisation for Economic Cooperation and Development (OECD) today announced that representatives of the government of Lebanon signed the common reporting standard (CRS) multilateral competent authority agreement (CRS MCAA), thereby re-confirming Lebanon’s commitment to implementing the automatic exchange of financial account information pursuant to the OECD/G20 CRS in time to commence exchanges in 2018. Lebanon is the 89th jurisdiction to sign the CRS MCAA.
Lebanon also signed the multilateral convention on mutual administrative assistance in tax matters, bringing the number of jurisdictions to join the agreement to 111.
As noted in the OECD release, the convention provides for all forms of administrative assistance in tax matters—exchange of information on request, spontaneous exchange, automatic exchange, tax examinations abroad, simultaneous tax examinations and assistance in tax collection.
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