OECD'S Multilateral Competent Authority Agreement For The Implementation Of Automatic Exchange Of Tax Information

On 29 October 2014, 51 jurisdictions signed the Organisation for Economic Co-operation and Development (OECD) Multilateral Competent Authority Agreement (MCAA) for the implementation of automatic exchange of tax information. The Appleby jurisdictions which signed the MCAA are Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, and Mauritius (Appleby jurisdictions). All Appleby jurisdictions are expected to start exchanging information under the MCAA by 2018. The form is almost identical to the form of intergovernmental agreements that are currently in place between the United Kingdom and the Governments of Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man and Jersey.