OECD, Bahrain, Lebanon,  Nauru, Panama and Vanuatu: Multilateral Competent Authority Agreement on automatic exchange of information – commitment to join by Bahrain, Lebanon, Nauru, Panama and Vanuatu

According to a press release of 9 May 2016, published by the OECD, Bahrain, Lebanon, Nauru, Panama and Vanuatu have confirmed to join the OECD Automatic Exchange of Information Agreement (2014) (MCAA) on the introduction of the automatic exchange of information in tax matters on a reciprocal basis (AEOI).

Currently, 101 jurisdictions have committed to implementing such information sharing in accordance with the Common Reporting Standard developed by the OECD and G20 countries and endorsed by the Global Forum in 2014.

The Global Forum is monitoring the implementation of tax transparency standards to ensure the effective and timely delivery of the commitments made, and the confidentiality of information exchanged, and to identify areas where support is needed.

Under the agreement, Bahrain, Lebanon, Nauru, Panama and Vanuatu will begin to automatically exchange information with other signatories from the beginning of 2018, based on the international standard for the exchange of information developed by the OECD.
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