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Exchange of information: OECD standard extended

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The OECD has updated Article 26 of the OECD Model Tax Convention explicitly to allow tax authorities to request information on a group of taxpayers without naming them individually.

The OECD’s Centre for Tax Policy said the move was a ‘step forward towards more transparency’. Many countries had always interpreted Article 26 to include group requests but, for some countries, ‘this represents a new interpretation’. Guidance on the update is provided on the OECD website.