India, Australia, Canada, Costa Rica, Indonesia, and New Zealand sign OECD multilateral competent authority agreement

India, Australia, Canada, on June 3 signed the OECD common reporting standard multilateral competent authority agreement, paving the way for automatic exchange of information, according to press releases issued by the countries’s governments.

Costa Rica, Indonesia, and New Zealand also signed the agreement June 3, according to the Indian government’s release.

The agreement is designed to give tax administrations additional tools to combat tax evasion.

See:

• Australia signs up to combat tax evasion

• Canadian Government combats international tax evasion by joining forces with international tax jurisdictions

• Government of India. Ministry of Finance. Department of Revenue. Central Board of Direct Taxes – Press Release

UPDATE: (6/4/2014) – for the OECD’s June 4 press release, see Release.