At the beginning of August, the OECD published a report stating that the first 15 countries had signed the Multilateral Competent Authority Agreement on the Exchange of Information (GIR MCAA). This agreement arises from an international initiative that established global tax rules and the regulatory framework known as Pillar II.
The Slovak Republic is among the first signatories of this agreement. A full list of signatory countries with their respective dates of signature is available on the following website.
What is the GIR MCAA Agreement?
The GIR MCAA (full title: Multilateral Competent Authority Agreement on the Exchange of GloBE Information) is based on Article 6 of the Convention on Mutual Administrative Assistance in Tax Matters and the exchange of information framework.
The purpose of the GIR MCAA is to:
- Introduce additional measures to ensure transparency and prevent tax avoidance by large corporations
- Reduce the possibility of profit concealment
- Prevent tax evasion and the shifting of profits to jurisdictions with low or zero taxation
By signing the agreement, participating countries commit to automatically exchanging certain financial information regarding how large corporations operate and pay taxes within their jurisdictions. The information will be shared uniformly among all countries, ensuring that local authorities receive the necessary data.
A preliminary version of the Commentary on the GIR MCAA, published in January 2025, can be accessed at the following link (note: available in English only).
Who are the Signatories of the GIR MCAA?
The first countries to join the agreement on mutual information exchange include, among others:
- Austria
- Belgium
- France
- Ireland
- New Zealand
- Slovakia
- United Kingdom
- Japan
A complete list of signatory countries with the exact dates of signature is available on the following webpage. Regular updates on international tax developments and transnational legislation can be found in the News section of Moore BDR I News.
