Germany has joined 15 other countries to sign the Organisation for Economic Cooperation and Development-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters - to combat cross-border tax evasion more effectively.
According to OEDC, the convention, covering both direct and indirect taxes, enables tax administrations in participating countries to work together to enforce national tax laws by exchanging information, conducting multilateral simultaneous tax examinations and assisting each other in tax collection, Tax-News.com reports.
Germany’s secretary of state in the federal ministry of finance, Dr Axel Nawrath, said last week the convention enabled more effective prosecution of international tax evasion and tax fraud.
Apart from the UK, other parties to the convention are Azerbaijan, Belgium,
Denmark, Finland, France, Iceland, Italy, the Netherlands, Norway, Poland,
Sweden and USA. Canada and Ukraine have signed but are still in the process of
ratification.
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