India, Canada, Five Others Join OECD Tax Info Exchange

Law360, New York (June 4, 2015, 4:44 PM EDT) -- India, Canada and Australia on Thursday became some of the latest countries to sign a tax information sharing pact created by the Organization for Economic Cooperation and Development that requires participating countries to automatically share financial account information for foreign nationals in their countries.

Seven countries — India, Canada, Australia, Chile, Indonesia, New Zealand and Costa Rica — have agreed to follow the OECD's Standard for Automatic Exchange of Financial Information In Tax Matters, bringing the number of participating countries to 94, the OECD said. Those countries are expected to launch their first automatic exchanges in 2017 or 2018, according to...

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