Malta signs tax convention

Malta signs tax convention

The convention provides for all possible forms of administrative co-operation between the parties in the assessment and collection of taxes

Malta has recently ratified the Council of Europe/OECD Convention on Mutual Administrative Assistance in Tax Matters.

It aims to be even more beneficial to Malta in the ongoing review by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes. It is said that the signing will also serve to elevate Malta to white list status with jurisdictions that have already signed to it.

The convention has so far been signed by 39 countries. These countries include emerging and developing economies.

Czech Republic and New Zealand also signed the Convention on Mutual Administrative Assistance in Tax Matters, following the signature by Romania earlier this month. Lithuania, Nigeria, Gabon, Kazakhstan and Latvia signed letters of intent to sign the Convention and such letters had earlier been received from Albania, Belize, Estonia, Morocco and Niue.