Pakistan signs agreements for Automatic Exchange of Information
Pakistan has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.
The signing ceremony to this effect took place at the Organization for Economic Co-operation and Development Secretariat in Paris today.
The Multilateral Convention offers concrete solutions for governments to close the gaps in the existing international rules which allow corporate profits to be shifted to low or no tax environments.
Welcoming the signing of the Convention, Finance Minister Ishaq Dar said that becoming a signatory to this convention further demonstrates and strengthens Pakistan’s commitment to countering cross-border tax avoidance and evasion.
Earlier, Pakistan also signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounts Information in Paris. The MCAA provides details of what information has to be exchanged, when and how.