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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 December 17, 2015 the Saudi Arabia deposited its instrument of ratification, acceptance or approval for the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Saudi Arabia signed the Amended Convention on May 29, 2013.
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On December 18, 2015 the OECD issued a press release announcing that Kuwait joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.
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On December 21, 2015 the OECD issued a press release announcing that on December 17, 2015 Greenland signed the Multilateral Competent Authority Agreement (MCAA), bringing the total number of signatories to 78. According to the overview of Signatories of the MCAA and the intended first information exchange date, Greenland intends its first exchange of information to take place in September 2017.
Read more: Greenland signs the Multilateral Competent Authority Agreement
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On December 15, 2015 the new European Parliament’s Special Committee on Tax Rulings and Other Measures Similar in Nature or Effect (TAXE II) published 4 in-depth analyses. All 4 these papers form part of a series of analytical pieces on the absence of EUcoordination regarding aggressive tax planning and its effects, prepared by Policy Department A at the request of the ECON Committee of the European Parliament.
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On December 17, 2015 the Japanese Ministry of Finance issued a press release announcing that on that same date Japan and the Federal Republic of Germany signed an Agreement for the Elimination of Double Taxation with respect to Taxes on Income and to Certain Other taxes and the Prevention of Tax Evasion and Avoidance (Hereafter the DTA). When entering into force the DTA will replace the existing DTA stemming from 1966.
Although the DTA has been signed, it has not entered into force yet. For the DTA to enter into force, the respective ratification procedures have to have been finalized in both countries.
Below we will discuss a selection of provisions included in the DTA of which we think they might interest our readers.
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