Montenegro has become 150th member of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes ,reports the Ministry of Finance.
For those less informed, this Global Forum is the international authority which took over the leading role in the area of the development of global standard for exchange of information for tax purposes: exchange of information at the request and automatic exchange of information on the financial account.
„Thanks to the technical support this Forum provides to its members, in the forthcoming period Montenegro will be fully dedicated to the harmonization of the national tax administration and the practice with international standards. It will also sign the Multilateral agreement on the implementation of measures which refer to the agreements on the evasion of double taxation“, said the representatives of the Ministry.
The global standard in the domain of the automatic exchange of the information refers to the exchange of the information on the financial accounts with financial institutions which will be exchanged among competent tax administrations.