Andorra is the 48th country to sign the OECD Declaration, which will oblige it to implement a new single global standard that the OECD is developing on automatic information exchange.
Signatories commit to implement a Common Reporting Standard endorsed by G20 finance ministers in February.
“Signing the Declaration is an important commitment, which shows the significant progress being made in Andorra,” said Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration.
“We welcome this first step, as part of wider and continuing efforts in Andorra to revise tax policy and improve the transparency of the international tax system,” added Saint-Amans.
And Cameroon has become the 65th signatory of the Convention on Mutual Administrative Assistance in Tax Matters.
