28 countries and jurisdictions took new steps to strengthen and expand their co-operation in tax matters.
At a signing ceremony held in Seville in the side-lines of the 15th Plenary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, 22 jurisdictions signed the multilateral competent authority agreement (MCAA) for the automatic exchange of information under the OECD Model Rules for Reporting by Digital Platforms. The agreement will allow jurisdictions to automatically exchange information collected by operators of digital platforms with respect to transactions and income realised by platform sellers in the sharing and gig economy and from the sale of goods through such platforms. The annual exchange of this information will assist tax administrations and taxpayers to ensure the correct and efficient taxation of such income.
In addition, 15 jurisdictions signed a separate MCAA supporting the Model Mandatory Disclosure Rules on Common Reporting Standard Avoidance Arrangements and Opaque Offshore Structures (CRS Mandatory Disclosure Rules). This agreement will enable the annual automatic exchange of information collected from intermediaries that have identified arrangements to circumvent the Common Reporting Standard (CRS) and structures that disguise the beneficial owners of assets held offshore with the jurisdiction of tax residence of the concerned taxpayers. This will allow tax authorities to ensure compliance of both the taxpayers and the intermediaries involved in such arrangements and structures.
The CRS Mandatory Disclosure Rules are part of broader actions taken by the OECD to ensure the continued effectiveness of international automatic exchange of tax information, including the recently published Crypto-Asset Reporting Framework and Amendments to the CRS, which were welcomed by G20 Finance Ministers and Central Bank Governors as integral additions to the global standard for automatic exchange of information.
Digital Platforms MCAA:
ARGENTINA
BELGIUM
BULGARIA
CANADA
COLOMBIA
COSTA RICA
CYPRUS
ESTONIA
FINLAND
ICELAND
IRELAND
LATVIA
LUXEMBOURG
MALTA
NETHERLANDS
NEW ZEALAND
NORWAY
POLAND
PORTUGAL
SLOVAKIA
SLOVENIA
SPAIN
UNITED KINGDOM
Mandatory Disclosure Rules MCAA.:
BELGIUM
BERMUDA
CAYMAN ISLANDS
COLOMBIA
COSTA RICA
CYPRUS
FINLAND
GUERNSEY
ICELAND ISLE OF MAN
JERSEY
PORTUGAL
SLOVENIA
SOUTH AFRICA
SPAIN
UNITED KINGDOM
source: oecd.org
At a signing ceremony held in Seville in the side-lines of the 15th Plenary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, 22 jurisdictions signed the multilateral competent authority agreement (MCAA) for the automatic exchange of information under the OECD Model Rules for Reporting by Digital Platforms. The agreement will allow jurisdictions to automatically exchange information collected by operators of digital platforms with respect to transactions and income realised by platform sellers in the sharing and gig economy and from the sale of goods through such platforms. The annual exchange of this information will assist tax administrations and taxpayers to ensure the correct and efficient taxation of such income.
In addition, 15 jurisdictions signed a separate MCAA supporting the Model Mandatory Disclosure Rules on Common Reporting Standard Avoidance Arrangements and Opaque Offshore Structures (CRS Mandatory Disclosure Rules). This agreement will enable the annual automatic exchange of information collected from intermediaries that have identified arrangements to circumvent the Common Reporting Standard (CRS) and structures that disguise the beneficial owners of assets held offshore with the jurisdiction of tax residence of the concerned taxpayers. This will allow tax authorities to ensure compliance of both the taxpayers and the intermediaries involved in such arrangements and structures.
The CRS Mandatory Disclosure Rules are part of broader actions taken by the OECD to ensure the continued effectiveness of international automatic exchange of tax information, including the recently published Crypto-Asset Reporting Framework and Amendments to the CRS, which were welcomed by G20 Finance Ministers and Central Bank Governors as integral additions to the global standard for automatic exchange of information.
Digital Platforms MCAA:
ARGENTINA
BELGIUM
BULGARIA
CANADA
COLOMBIA
COSTA RICA
CYPRUS
ESTONIA
FINLAND
ICELAND
IRELAND
LATVIA
LUXEMBOURG
MALTA
NETHERLANDS
NEW ZEALAND
NORWAY
POLAND
PORTUGAL
SLOVAKIA
SLOVENIA
SPAIN
UNITED KINGDOM
Mandatory Disclosure Rules MCAA.:
BELGIUM
BERMUDA
CAYMAN ISLANDS
COLOMBIA
COSTA RICA
CYPRUS
FINLAND
GUERNSEY
ICELAND ISLE OF MAN
JERSEY
PORTUGAL
SLOVENIA
SOUTH AFRICA
SPAIN
UNITED KINGDOM
source: oecd.org
