Austria, Luxembourg and Singapore among countries signing-on to end tax secrecy

9 countries have signed the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters

On 29 May 2013 a wide range of countries participated in the signing ceremony at the OECD. Austria, Belize, Estonia, Latvia, Luxembourg, Nigeria, Saudi Arabia, Singapore and the Slovak Republic signed the Convention. Burkina Faso, Chile and El Salvador signed a letter of intention to sign the Convention.

Belize, Ghana, Greece, Ireland, Malta, and the Netherlands including its Caribbean islands (Bonaire, Sint Eustatius and Saba) and Aruba, Curacao and Sint Maarten deposited their instruments of ratification.

“This is a historic moment for the Convention and another winning round in the fight against tax cheats,” said OECD Secretary-General Angel Gurría during the signing ceremony. “In the past 2 years more than 60 countries have signed the Convention or stated their intention to do so, marking an important milestone on the road to closer cooperation and more transparency – to making the international system fair to all taxpayers.”