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Niue becomes the 92nd jurisdiction to join the most powerful instrument against offshore tax evasion

30 November 2015   (0 Comments)
Posted by: Author: OECD
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Author: OECD

In Paris on the occasion of the COP21, the Honourable  Billy Graham Talagi, Minister for Ministry of Natural Resources of Niue signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters in the presence of Deputy Secretary General Rintaro Tamaki.

Developed by the OECD and the Council of Europe, the Convention provides a comprehensive multilateral framework for international tax co-operation. Its coverage includes administrative assistance between tax authorities for information exchange on request, automatic exchange, simultaneous tax examinations and assistance in the collection of tax debts.

Since the G20 put financial sector transparency and tax evasion on the international agenda in 2009, the Convention has become a central element of international cooperation efforts. It is seen as the ideal instrument for the swift implementation of the new international Standard for Automatic Exchange of Financial Account Information in Tax Matters developed by the OECD and G20 countries. 

In October, on the occasion of the meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Barbados, Niue signed the Multilateral Competent Authority Agreement which operationalises the Automatic Exchange of Financial Account Information, which Niue has committed to implement with first exchanges by 2017.

The Convention will also be critical for implementation of automatic exchange of country by country reports under the OECD/G20 Base Erosion and Profit Shifting(BEPS) Project, and is a powerful tool in the fight against illicit financial flows.

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Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.


The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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