Today,
at
the
OECD
Headquarters
in
Paris,
Ms
Regina
Chinamasa,
Commissioner
General
of
Zimbabwe’s
Revenue
Authority,
signed
the Multilateral
Convention
on
Mutual
Administrative
Assistance
in
Tax
Matters (the
Convention),
marking
a
key
milestone
as
the
total
number
of
participating
jurisdictions
reaches
151.
By
today’s
signing,
Zimbabwe
joins
the
world’s
widest-reaching
international
treaty
for
international
tax
co-operation
and
exchange
of
information
and
further
strengthens
the
reach
of
the
Convention
in
Africa. The
signing
will
pave
the
way
for
Zimbabwe
to
engage
in
the
exchange
of
information
with
150
other
jurisdictions,
including
all
major
financial
centres.
These
exchange
relationships
will
be
added
to
the
over
8000
exchange
relationships
already
in
place
under
the
Convention.
L-R: Mr.
Yoshiki
Takeuchi
(Deputy
Secretary-General,
OECD),
Ms.
Regina
Chinamasa
(Commissioner
General
of
Zimbabwe’s
Revenue
Authority)
Earlier
this
week,
on
behalf
of
the
Republic
of
Madagascar,
Ms.
Rindra
Hasimbelo
Rabarinirinarison,
Minister
of
Economy
and
Finance,
deposited
the
instrument
of
ratification
of
the
Convention.
Following
this
deposit
and
in
accordance
with
its
Article
28,
the
Convention
will
enter
into
force
for
Madagascar
on
1
November
2025.
The
Convention
enables
jurisdictions
to
engage
in
a
wide
range
of
mutual
assistance
in
tax
matters:
exchange
of
information
on
request,
spontaneous
exchange,
automatic
exchange,
tax
examinations
abroad,
simultaneous
tax
examinations
and
assistance
in
tax
collection.
It
guarantees
extensive
safeguards
for
the
protection
of
taxpayers’
rights.
The
Convention
is
the
primary
instrument
for
the
swift
implementation
of
the Standard
for
Automatic
Exchange
of
Financial
Account
Information
in
Tax
Matters (the
Common
Reporting
Standard
or
CRS).
The
CRS,
developed
by
the
OECD
and
G20
countries,
enables
more
than
125
jurisdictions
to
automatically
exchange
offshore
financial
account
information.
Beyond
the
exchange
of
information
on
request
and
the
automatic
exchange
pursuant
to
the
Standard,
the
Convention
is
also
a
powerful
tool
in
the
fight
against
illicit
financial
flows
and
is
a
key
instrument
for
the
implementation
of
the
transparency
standards
of
the OECD/G20
Base
Erosion
and
Profit
Shifting
(BEPS)
Project.
For
further
information,
please
contact
the
OECD
Centre
for
Tax
Policy
and
Administration: ctp.communications@oecd.org