July 28 2021

Kenya Signs CRS Multilateral Competent Authority Agreement on Automatic Exchange of Information

Source: IBFD Tax Research Platform News

According to a recent overview published by the Council of Europe, Kenya has joined the Multilateral Competent Authority Agreement‎ on Automatic Exchange of Information Agreement (2014) (CRS MCAA) on the introduction of the automatic exchange of information in tax matters on a reciprocal basis.

The CRS MCAA is a multilateral competent authority agreement, based on Article 6 of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, as amended by the 2010 protocol, which aims to implement the automatic exchange of financial account information pursuant to the OECD/G20 Common Reporting Standard (CRS) and to deliver the automatic exchange of CRS information by 2018. The text of the CRS MCAA, background information and a list of the 107 signatories can be found here. Further developments will be reported as they occur.