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Morocco Signs OECD Multilateral Tax Convention

by Ulrika Lomas,, Brussels

29 May 2013

The Organization for Economic Cooperation and Development (OECD) has welcomed Morocco's signature of the Convention on Mutual Administrative Assistance in Tax Matters, the most comprehensive multilateral agreement available for tax-cooperation and exchange of information.

At a ceremony to conclude the agreement, OECD Secretary General Angel Gurria highlighted that Morocco's membership of the pact demonstrates the nation's commitment to engage in international tax cooperation efforts, and opens up significant benefits for the country in terms of securing assistance from other nations in the investigation of fiscal crime and bringing enforcement action against its perpetrators.

Gurria also highlighted that Morocco's involvement in multilateral tax matters will strengthen efforts being ramped up internationally to tackle the misappropriation of public funds by elected officials and the repatriation of these stolen funds, particularly in Arab spring nations.

Gurria pointed out: "Morocco can now enjoy a close cooperation with the other signatory States to improve its fiscal framework and tax collection. This will allow [local authorities] to better combat tax evasion and tax fraud, which we know are real obstacles to economic and social development of many countries."

"This new commitment sends a strong signal to Moroccan citizens: it demonstrates a clear commitment to adopt best practices to build a more just and inclusive society."

Gurria pointed out that the signing of the multilateral convention comes almost one year after Morocco acceded to several other key OECD instruments, including the Declaration on International Investment and Enterprise, the Declaration on Integrity, Honesty and Transparency in the Conduct of Affairs and International Finance, and the Declaration on Green Growth. Morocco has also confirmed its commitment to the implementation of a standard non-discriminatory investment environment, the fight against corruption and money laundering, good public governance and sustainable development, he highlighted.

TAGS: Morocco | environment | compliance | Finance | tax | business | tax compliance | tax avoidance | law | Organisation for Economic Co-operation and Development (OECD) | enforcement | multinationals | legislation | mutual assistance agreement

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