Information exchange

One of the most influential events in light of world-wide tax transparency and tax collection is the international exchange of tax information between the national tax authorities. The international standard for the exchange of information was developed by the OECD and is supported now by more that 100 countries who are the signatories of a Convention on Mutual Administrative Assistance in Tax Matters. The Convention is the most powerful instrument for international tax cooperation and provides for all forms of administrative assistance in tax matters, including exchange of information on request, spontaneous exchange, automatic exchange, tax examinations abroad, etc.

In practical terms that means that data on the financial accounts beneficially owned or controlled by tax residents of a certain state (including accounts of the controlled foreign companies) will be passed to and consequently be available for the inspection by the tax authorities of that certain state. It is therefore highly recommended to assess one’s tax situation before the bank information will have been transmitted to the country of tax residence

MP Part offers a broad range of services in the field of information exchange which includes:

  • advisory in regard to the forms, legal grounds and applicability of the information exchange;
  • diagnostic analysis of the asset structure and its impact on the outcomes of the information exchange; 
  • proposals as to the improvement measures recommended in light of the expected or ongoing information exchange;
  • supervision and administration (where applicable) of the information to be exchanged;
  • assistance in dealing with replies to information requests by the national tax authorities.

We are glad to discuss with you the general strategy as well as the complicated areas related to the international exchange of tax information to help you to be aware of and duly prepared to the consequences of exchange of your sensitive information with your national tax authorities.