On June 23, 2017 the South African Revenue Service (SARS) announced that both the Agreement between the Government of the Republic of South Africa and the Government of the Principality of Monaco for the Exchange of Information Relating to Tax Matters and the Agreement between the Government of the Republic of South Africa and the Government of the Republic of Costa Rica for the Exchange of Information Relating to Tax Matters entered into force on June 23, 2017.

Monaco

Based on Article 10 of the TIEA (“ENTRY INTO FORCE”) the fact that the TIEA entered into force on June 23, 2017 means that the TIEA shall have effect:

(a)  for criminal tax matters on June 23; and

(b)  for all other matters covered in Article 1 on June 23, 2017, but only in respect of taxable periods beginning on or after June 23, 2017 or, where there is no taxable period, all charges to tax arising on or after June 23, 2017.

The TIEA as concluded between South Africa and Monaco arranges for the exchange of information upon request and for the possibility to conduct tax examinations abroad.

Click here to be forwarded to the Agreement between the Government of the Republic of South Africa and the Government of the Principality of Monaco for the Exchange of Information Relating to Tax Matters as available on the website of SARS.

Costa Rica

Based on Article 12  of the TIEA (“ENTRY INTO FORCE”) the fact that the TIEA entered into force on June 23, 2017 means that the TIEA shall have effect:

(a)  for criminal tax matters on June 23, 2017; and

(b)  for all other matters covered in Article 1 on June 23, 2017, but only in respect of taxable periods beginning on or after June 23, 2017, or where there is no taxable period, all charges to tax arising on or after June 23, 2017

The TIEA as concluded between South Africa and Costa Rica arranges for the exchange of information upon request and for the possibility to conduct tax examinations abroad.

Click here to be forwarded to the Agreement between the Government of the Republic of South Africa and the Government of the Republic of Costa Rica for the Exchange of Information Relating to Tax Matters as available on the website of SARS.

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