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Argentina becomes the first South American country to become a Party to the Multilateral Convention

Tuesday, 18 September 2012   (0 Comments)
Posted by: SAIT Technical
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Today Argentina has deposited its instrument of ratification moving Argentina one step closer to benefiting from cross border tax co-operation and information sharing and demonstrates Argentina's commitment to tax transparency and exchange of tax information.

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which is open to all countries, providesgovernments with a valuable tool forstrengthening international tax co-operation in the fightagainstoffshore tax evasion and avoidance. It providesa multilateral basis for a wide variety of administrative assistance, includinginformation exchange on request, automatic exchange of information and simultaneous tax examinations.

Argentina is the first South American country to become a Party to the Multilateral Convention which will enter into force for Argentina 1 January 2013.

Signatories to the amended Multilateral Convention are: Argentina, Australia, Belgium, Brazil, Canada, Colombia, Costa Rica, Denmark, Finland, France, Ghana, Georgia, Germany, Greece, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Mexico, Moldova, Netherlands, Norway, Poland, Portugal, the Russian Federation, Slovenia, South Africa, Spain, Sweden, Tunisia, Turkey, Ukraine, the United Kingdom and the United States.

Many more countries are expected to sign the Convention at a signing ceremony to be held in Cape Town, South Africa on 26 October on the occasion of the Global Forum on Transparency and Exchange of Information.



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.

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