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Home BUSINESSFinland signs tax information exchange deal
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Thu, 28 Jan, 2016 12:06:24 AM
FTimes – STT Report, Jan 28
 
File Photo – Lehtikuva.
Finland on Wednesday signed an agreement to exchange information among tax administrations of other countries.
 
The agreement was written in Paris with the cooperation of more than 30 countries.
 
According to the agreement, large multinational companies must continue to inform tax administrations of the participating countries, for example, income details and taxes owed.
 
The new information exchange is based on a convention drawn up by the Council of Europe and the Organisation for Economic Co-operation and Development (OECD), which was already signed by Finland. 
 
The convention touches on matters of mutual tax assistance.
 
Earlier, Finland has amended its national legislation prior to the start of the tax information exchange.
 
Country-specific tax information is to be shared for the first time at the beginning of the next fiscal year.
 
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