Qatar signs OECD Convention on Mutual Administrative Assistance in tax matters and CRS MCAA

Qatar has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters of the OECD. The Convention was signed by H.E. Khalid Bin Rashid Al-Mansouri, Ambassador of Qatar to France in the presence of the MR Masamichi Kono, Deputy Secretary-General of the OECD on the 10/11/2017 in Paris.

Qatar became the 115th jurisdiction to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

The Convention provides for the exchange of information on request, spontaneous and automatic exchange, tax examinations abroad and simultaneous tax examinations and assistance in tax collection. It can be also used to promptly implement the transparency measures of the Base Erosion and Profit Shifting (BEPS) project, such as the automatic exchange of Country-by-Country reports and the sharing of rulings.

Qatar has also signed the CRS Multilateral Competent Authority Agreement (CRS MCAA), reconfirming its commitment to implement the automatic exchange of financial account information pursuant the OECD/G20 Common Reporting Standard (CRS) starting to commence exchanges in 2018. Qatar is the 96th jurisdiction to sign the CRS MCAA.

The Convention was developed jointly by the OECD and the Council of Europe in 1998 and amended in 2010 to align it to the international standards on exchange of information and to open it to all countries, thus creating a transparent environment.

Source: OECD