(June 3, 2015)

On June 3, 2015 a news release was published on the website of the Canada Revenue Agency stating that Canada signed the OECD’s Multilateral Competent Authority Agreement (MCAA), implementing the new standard for automatic exchange of financial account information in tax matters. With Canada and Australia (see our article of earlier today) signing the MCAA, the total number of countries that have signed the MCAA comes to 56.

According to the news release Canada committed to implementing the Common Reporting Standard by 2017, with the first exchange of information occurring in 2018.

Click here to be forwarded to the text of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters as available on the website of the OECD.

Click here to be forwarded to overview of signatories of the MCAA and intended first information exchange date as available on the website of the OECD. (Please note that when we put the link, the OECD did not yet update the overview)

For further information click here to be forwarded to the news release as published on the website of the Canada Revenue Agency.

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