OECD: Mutual administrative assistance in tax matters, toolkit for developing countries

OECD: Mutual administrative assistance in tax matters

The Organisation for Economic Cooperation and Development (OECD) today announced the release of a “toolkit” for countries becoming a party to the Convention on Mutual Administrative Assistance in Tax Matters (MAAC).

1000

Related content

According to the OECD release, the MAAC is an international treaty for multilateral co-operation in tax matters. As of July 2020, there are 137 jurisdictions participating.

The OECD reported there are developing countries under the umbrella of the MAAC that have started implementing the standards of automatic exchange of information (common reporting standard and country-by-country reporting).
 

Toolkit to become a party to the MAAC

The toolkit—produced by the Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum)—is designed to help countries decide whether to join the MAAC and provides guidance on the steps to be taken and how to better prepare for joining.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal