Based on the overview of Jurisdictions Participating in the Convention on Mutual Administrative Assistance in Tax Matters as available on the website of the OECD, on October 26, 2015 Bulgaria signed the Convention on Mutual Administrative Assistance in Tax Matters. By doing so Bulgaria became the 88th signatory to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
The Convention on Mutual Administrative Assistance in Tax Matters provides a comprehensive multilateral framework for the exchange of information and assistance in tax collection. Its coverage includes administrative assistance between tax authorities for information exchange on request, automatic exchange of information, simultaneous tax examinations and assistance in the collection of tax debts.
The OECD has announced a signing ceremony with respect to the Multilateral Competent Authority Agreement (MCAA) for later this week. A.o. Barbados, Grenada, Marshall Islands, Niue, Saint Vincent and the Grenadines, Saint Lucia and Samoa are expected to sign the MCAA during this ceremony (See our Calendar). According to the Chart of Jurisdictions Participating in the Convention on Mutual Administrative Assistance in Tax Matters as available on the website of the OECD as per October 26, 2015, these jurisdictions have not yet signed the Convention on Mutual Administrative Assistance in Tax Matters. Since the MCAA is a framework administrative agreement to automatically exchange information based on Article 6 of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, we therefore expect the aforementioned jurisdictions to sign the Convention on Mutual Administrative Assistance in Tax Matters before they participate in the signing ceremony with respect to the MCAA.
Click here to be forwarded to the Chart of Participating Jurisdictions (status as per October 26, 2015) as available on the website of the OECD, which will open in a new window.
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