South Africa-Grenada TIEA enters into force

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The Tax Information Exchange Agreement (TIEA) between South Africa and Grenada entered into force on 10 March 2017, following publication in the Official Gazette of the Republic of South Africa on 13 April 2017.

The agreement provides for the effective exchange of information regarding tax matters between the tax authorities including automatic exchange of information which is necessary for the exchange of financial account information based on the international standards formulated by the OECD, and is expected to contribute to the prevention of international tax evasion and tax abuse.

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