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MINISTRY OF FOREIGN AFFAIRS AND INTERNATIONAL COOPERATION

ESWATINI SIGNS THE MULTILATERAL CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS (MAC) 

 

The Kingdom of Eswatini, represented by Eswatini Ambassador to Belgium and the European Communities Sibusisiwe Mngomezulu, has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC).

The MAC is an Agreement designed to facilitate international co-operation among tax authorities in order to improve their ability to tackle tax evasion and avoidance, and ensure full implementation of their national tax laws, while respecting the fundamental rights of taxpayers.

Making his remarks, Ambassador Mngomezulu noted that the operationalisation of the Convention would enhance the integration of the Kingdom of Eswatini into regional and international markets by supporting an unprecedented level of transparency in tax matters, which is necessary for the growth of the economy.

The Convention will allow the Kingdom to engage in activities that will increase transparency in tax matters; such as the spontaneous exchange of information, simultaneous examinations, performance of tax examinations abroad, assistance in the recovery of tax claims and measures of conservancy, as well as facilitate joint audits.

The Ambassador also expressed the appreciation of the Government of the Kingdom of Eswatini for the support given by the Organisation of Economic Cooperation and Development (OECD) in capacity building while preparations for accession to the MAC were underway.

He observed that trade liberalisation has eased the international movement of persons, capital, goods and services; and acknowledged that as a result of the transactional activity related to this; an instrument of this nature was necessary to promote and facilitate international cooperation between the tax authorities of the signatories to the Convention.

The Convention was signed on Tuesday 29 September 2020 in Paris, France.

RELEASED BY: SENATOR THULISILE DLADLA

MINISTER OF FOREIGN AFFAIRS AND INTERNATIONAL COOPERATION

2nd October 2020

 

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