US, Uruguay TIEA enters into force
The tax information exchange agreement (TIEA) between the US and Uruguay took effect on 10 November 2024. This follows Uruguay’s Chamber of Senators' approval of a tax information exchange agreement with the US on 7 August 2024. The
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Argentina gets first financial data exchange from the US
Argentina’s federal tax authority (AFIP) announced that it received its first exchange of financial account information from the US on 2 October 2024. Similarly, Argentina has issued a statement stating that it sent financial information
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US: Treasury releases list of boycott countries
The US Treasury published a notice in the Federal Register regarding the current list of countries that may necessitate participation in or cooperation with an international boycott on 1 October 2024. The countries identified include Iraq,
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Uruguay, US ratify exchange of information agreement
Uruguay has ratified the US-Uruguay Exchange of Information Agreement (2023) through Law No. 20351. The legislation is currently pending publication in the Official Gazette. Signed on 24 October 2023, under the agreement Uruguay and the US will
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Costa Rica, Iceland TIEA goes into effect
The tax information exchange agreement (TIEA) between Costa Rica and Iceland took effect on 10 September, 2023. Applicable to criminal tax matters from the date it went into force, the agreement extended to other matters starting 1 January,
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OECD: Peer Review Report on Tax Transparency and EOI in Serbia
On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Serbia’s implementation of the standard on transparency and exchange of information (EOI). The report assesses the legal and regulatory framework at 4
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OECD: Peer Review Report on Tax Transparency and EOI in Latvia
On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Latvia’s implementation of the standard on transparency and exchange of information (EOI). Latvia’s implementation of the EOIR standard was given an
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OECD: Peer Review Report on Tax Transparency and EOI in Poland
On 8 November 2023 the Global Forum on Transparency and Exchange of Information for Tax Purposes published the second-round peer review report on Poland’s implementation of the standard on transparency and exchange of information (EOI). Poland’s
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US and Israel sign agreement on the exchange of CbC reports
The Internal Revenue Service (IRS) of the United States has released the competent authority arrangement concerning exchanging Country-by-Country (CbC) Reports with Israel. As per the IRS CbC Reporting Jurisdiction Status Table, this arrangement
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Armenia ratifies MCCA on the exchange of financial account information
On 3 October 2023, the President of Armenia, Vahagn Khachaturyan, signed the law to ratify the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA). This agreement facilitates the exchange
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OECD: Facilitating the Use of Treaty Exchanged Information for Non-Tax Purposes
Sharing of treaty-exchanged information with relevant law enforcement agencies for non-tax purposes helps to combat illicit financial flows (IFFs), money laundering and corruption. Institutions often face operational challenges in implementing this
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US and Germany sign CAA regarding CbC exchange arrangement
On 24 March 2023, US and Germany signed a Competent Authority Agreement (CAA) to exchange country-by-country (CbC) reports. The Competent Authorities desire to conclude this Arrangement on the exchange of CbC Reports based on domestic reporting and
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Germany publishes list of Jurisdictions for Automatic Exchange of Information
On 23 February 2023, the German Ministry of Finance has released an updated list of jurisdictions that will receive financial account information automatically for tax purposes starting on 30 September 2023. For 2023, six new countries have been
See MoreGlobal Forum Plenary Meeting
On 9 to 11 November 2022 the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) held its 15th Plenary Meeting. The main theme of the discussions was to bring transparency and exchange of information to the
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South Africa: Peer Review on Transparency and Exchange of Information
The second-round peer review report on South Africa’s implementation of standards on the exchange of information on request was published by the OECD’s Global Forum on 9 November 2022. The report notes that South Africa is largely compliant with
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OECD: Peer Review Report on the Automatic Exchange of Financial Account Information
On 9 November 2022 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes published a peer review report on the automatic exchange of financial account information. The Global Forum monitors and reviews the
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Israel: Peer Review on Transparency and Exchange of Information
The second stage, phase one peer review report on Israel’s implementation of standards on the exchange of information on request was published by the OECD on 9 November 2022. The first review noted that although a regulatory framework was in
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UN: Increasing Tax Transparency
At the meeting of the UN Committee of Experts on International Cooperation in Tax Matters from 18 to 21 October 2022 the Subcommittee on increasing tax transparency reported on its work program. The Subcommittee was formed to consider ways to
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