Malta has joined 50 states and jurisdictions in signing a Multilateral Agreement on Automatic Exchange of Tax Information. The agreement was signed in Berlin under the aegis of the OECD and the Maltese Minister for Finance signed the agreement on Malta’s behalf.
All the signatory states have committed themselves to share information about the financial accounts of tax payers. This agreement joins other similar agreement such as the EU Savings Directive, Malta’s FATCA with the United States together with a number of Tax Information Exchange Agreements signed with offshore centres.
This agreement represents a further step in the fight against tax evasion since tax administrations across the world will receive the information they need to ensure the proper taxation of their taxpayers.