Germany and Austria have recently signed in Berlin a protocol revising the existing bilateral double taxation agreement (DTA) in place between the two countries, implementing the Organization for Economic Cooperation and Development’s (OECD) standard on transparency and effective information exchange in tax matters.
The protocol adapts the information exchange clause contained in the DTA to comply with article 26 of the OECD’s model convention, and provides for tax information upon request.
Following entry into force of the revisions protocol, Austria will transfer banking information to the German tax authorities without the need for a formal initiation of criminal proceedings in Germany, as previously stipulated under Austrian law. Concrete requirements for requests for information have been clarified in a protocol clause.
The protocol adapts the information exchange clause contained in the DTA to comply with article 26 of the OECD’s model convention, and provides for tax information upon request.
Following entry into force of the revisions protocol, Austria will transfer banking information to the German tax authorities without the need for a formal initiation of criminal proceedings in Germany, as previously stipulated under Austrian law. Concrete requirements for requests for information have been clarified in a protocol clause.
