On September 10, Malta and San Marino signed a protocol amending the double tax convention they share dating back to May 2005.
The agreements, upon entry into force, will allow the respective countries’ tax authorities to gain access to information pertaining to tax matters, in certain circumstances, such as where there is evidence of the perpetration of a tax crime, and also in civil tax matters.
The document was signed by Maltese Ambassador to Italy and San Marino, Walter Balzan, and by Ambassador of San Marino in Italy, Barbara Para, at the Maltese Embassy in Rome.
In order to gain a place on the OECD’s white list of territories that have substantially implemented the internationally-agreed standard, San Marino must conclude at least 12 agreements that include Article 26 of the OECD model convention.
Following the signing of the agreement, San Marino has now concluded three agreements, having already concluded TIEAs with Monaco and the Faroe Islands. The jurisdiction has recently initialed an agreement with Liechtenstein, and announced that it is in discussions with Italy.
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