Andorra Signs Multilateral Competent Authority Agreement
by Lorys Charalambous, Lowtax.net, Cyprus
04 December, 2015
Andorra has become the latest signatory to the OECD's Multilateral Competent Authority Agreement (MCAA), making it the 75th jurisdiction to sign the deal. Andorra will begin sharing information from 2018, with data collected from 2017.
In joining the MCAA, the jurisdiction commits to automatically exchange tax information with other nations' tax authorities under the OECD's new tax information exchange standard, the Common Reporting Standard (CRS).
Andorra's announcement came at the 6th meeting of the Automatic Exchange of Information Group, an organization made up of 64 member countries, created to review the implementation of the CRS. The agreement was inked by Clàudia Cornella, Andorra's Secretary of State for International Financial Affairs.
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