Chile's Finance Minister Felipe Larraín signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, at a ceremony in Santiago. OECD Secretary General Gurría applauded the country's recent steps to boost information-sharing arrangements. This includes both Chile's decision to become the 59th signatory to the Convention, as well as the August announcement that it would engage in automatic exchange of information for tax purposes with Colombia, Mexico and Peru, in the context of the Pacific Alliance.
To enter into force, the Convention must now be ratified by the Chilean Congress.
The Multilateral Convention provides for all forms of mutual assistance: exchange on request, spontaneous exchange, tax examinations abroad, simultaneous tax examinations and assistance in tax collection, while protecting taxpayers' rights. It provides the option to undertake automatic exchange, while requiring an agreement between the Parties interested in this form of assistance.
The 59 signatories to the Convention are: Albania, Argentina, Australia, Austria, Azerbaijan, Belgium, Belize, Brazil, Canada, Chile, China, Colombia, Costa Rica, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Ghana, Greece, Guatemala, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Latvia, Lithuania, Luxembourg, Malta, Mexico, Moldova, Morocco, Netherlands, New Zealand, Nigeria, Norway, Poland, Portugal, Romania, Russian Federation, Saudi Arabia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, Tunisia, Turkey, Ukraine, United Kingdom, and United States.
The following jurisdictions are also covered by the Convention through territorial extension by Denmark: the Faroe Islands and Greenland; by territorial extension by the Netherlands: Aruba, Curaçao and Sint Maarten; and by territorial extension by the United Kingdom: the Cayman Islands, Montserrat and Turks and Caicos.
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