Paris, The Sultanate signed three international tax agreements at the headquarters of the Organization for Economic Co-operation and Development (OECD) in Paris. The agreements are " Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting " , " Convention on Mutual Administrative Assistance in Tax Matters" and " Multilateral Competent Authority Agreement".

The agreements were signed on behalf of the Sultanate's government by Sheikh Dr. Ghazi bin Said al- Rowas, Sultanate's Ambassador to the French Republic.

The agreements were signed on the sidelines of the annual meeting of the OECD Global Forum on Transparency and Exchange of Tax Information.

Sheikh Dr. Ghazi bin Said al- Rowas said that these agreements come within a package of steps followed by the Sultanate represented by the Tax Authority to keep pace with international best practices in the field of taxation in accordance with the recommendations and international tax standards proposed by the Organization for Economic Cooperation and Development.

He added that the agreements aim at enhancing cooperation between the tax authorities in various countries of the world, especially in the field of information exchange, which will contribute significantly to the fight against tax evasion, as well as in the issue of equitable distribution of tax revenues among the countries of the world.

The meeting was attended by more than 350 people representing more than 150 countries including finance ministers, ambassadors, heads of tax administrations and tax experts.

Source: Oman News Agency