Senegal takes key steps towards improving tax transparency
05 February 2016
Posted by: Author: OECD
Senegal today (04/02/2016) signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Senegal is the 11th African country to sign the Convention and the 93rd jurisdiction to join it.
His Excellency, Amadou Ba, Minister of Economy, Finance and Planning of Senegal, signed the Convention in the presence of the OECD Secretary-General Angel Gurría.
The Convention provides for all forms of administrative assistance in tax matters: exchange of information on request, spontaneous exchange, automatic exchange, tax examinations abroad, simultaneous tax examinations and assistance in tax collection. It guarantees extensive safeguards for the protection of taxpayers’ rights.
The Convention was developed jointly by the OECD and the Council of Europe in 1988 and amended in 2010 to respond to the call by the G20 to align it to the international standard on exchange of information and to open it to all countries, thus ensuring that developing countries could benefit from the new more transparent environment.
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This article first appeared on oecd.org.