September 29 2021

Rwanda Commits to Start Automatic Exchange of Financial Account Information by 2024

Source: IBFD Tax Research Platform News

According to a press release of 28 September 2021, published by the OECD, Rwanda has committed to implement the international standard for the OECD Automatic Exchange of Financial Account Information Agreement (2014) (AEOI), by September 2024. This commitment makes Rwanda the 120th Global Forum member to commit to start AEOI by a specific date, and the ninth African country to do so.

These new international standards already adopted by more than 100 countries will help Rwanda to generate additional tax revenues by allowing it to identify cases of tax evasion and will also help to boost tax compliance.

For more information, see OECD's press release of 28 September 2021.