Morocco has became the latest country to sign the Convention on Mutual Administrative Assistance in Tax Matters, the multilateral agreement set up to boost tax cooperation and exchange of information, and the fight against tax evasion.
The administrative assistance enabled under the convention, which was updated to meet the international standard on transparency and exchange of information and opened for signature to all countries in June 2011, includes information exchange on request, automatic exchange, simultaneous tax examinations and assistance in the collection of tax debts.
The convention, developed jointly by the OECD and the Council of Europe, now has 46 signatories, including Brazil, Russia, India, South Africa, 18 EU member states and the US. Morocco follows Tunisia as the second country in the Middle East and North Africa region to sign the updated agreement.
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