Malta has ratified the Convention on Mutual Administrative Assistance in Tax Matters. An amending Protocol has recently come into force to the effect that the Joint Council of Europe/OECD Convention was brought into line with the international standard on exchange of information for tax purposes and was opened up to all countries. Previously, it was only open to members of the OECD and the Council of Europe.
The Convention is aimed at promoting international co-operation in the administration of national tax laws, particularly in respect to the assessment and collection of taxes. Apart from rubber-stamping Malta’s standing in the current international scenario, particularly in the field of transparency and exchange of information, being a signatory improves Malta’s footing in the ongoing review by the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes. Although Malta is already placed on the OECD’s white list, this move will also push Malta’s efforts towards a white list status with jurisdictions that have already signed the Convention.
