Forty-seven countries, including Singapore and Switzerland, endorsed the OECD’s Declaration on Automatic Exchange of Information in Tax Matters during the OECD’s Ministerial Council Meeting, held May 6 in Paris.
The declaration commits countries to implement a new single global standard on automatic exchange of information, which was developed by the OECD and endorsed by G20 finance ministers in February. All 34 OECD countries endorsed the document, along with Argentina, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa.
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