6 new countries sign agreement, international tax

[JohnLocke]

This is a little bit of interest to many I think, since Iceland is one of these countries that claim to be tax friendly and wanted to establish a Free Zone (not sure if they actually did) in their own country. So it would be in conflict with such an agreement.

12/05/2016 - As part of continuing efforts to boost transparency by multinational enterprises (MNEs), Canada, Iceland, India, Israel, New Zealand and the People’s Republic of China signed today the Multilateral Competent Authority agreement for the automatic exchange of Country-by-Country reports ("CbC MCAA"), bringing the total number of signatories to 39 countries. The signing ceremony took place in Beijing, China.

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[Jack Dui]

Not understanding, is this one good news or bad news for me!!!! BIG bad, sure

 

[footi gupt]

that is great.. nice info. So iceland is tax free?
Any more latest news. I have office in canada but like to expand in countries where it is tax free.
My next option will be iceland. Though i need to get confirmation on this.

 

[myshufflemix]

This is great for small to medium businesses to grow their business and widen their reach.

 

[deadpool]

Iceland can be a nice new offshore destination. Any offshore option in the western Europe is considered legit.

 

[waltercrane]

It seems there's no country in ASIA that sign the International Tax agreement. So sad about that.

 

[deadpool]

It seems there's no country in ASIA that sign the International Tax agreement. So sad about that.

Everything happens a bit late in the east. Just wait till the laws ease to your convenience.

 

[RamsayB]

India is on the list! I'm very surprised by this. They are growing at a high speed these past few years!