It is on the sidelines of the 12th plenary meeting marking the 10th anniversary of the World Forum on Transparency and Exchange of Information for Tax Purposes of the Organization for Economic Cooperation and Development (OECD) represented by its Deputy Secretary General Mr. Ludger Schuknecht, that the Minister of the Economy and Finance of Benin, Mr. Romuald WADAGNI, as the competent authority in the matter, signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC ), this Wednesday, November 27, 2019 in Paris.

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters is a cooperation instrument which offers three main forms of tax assistance, namely:

• exchange of information, including simultaneous tax examinations and participation in tax examinations conducted abroad;

• assistance in the recovery of tax debts abroad;

• and the notification of documents, facilitating better implementation of internal tax laws, while preserving the fundamental rights of taxpayers.

The signing of the MAC is part of the global strategy to fight against tax fraud and tax evasion at the international level implemented since 2016. Thus, Benin has successively adhered to the Inclusive Framework for the fight against BEPS (base erosion and profit transfer), the Inspectors of Taxes Without Borders Initiative (IISF) and the Global Forum on Transparency. and the exchange of information for tax purposes on May 12, 2017. The latter confirms our country’s commitment to implement the standards relating to the exchange of information and tax transparency. Benin thus becomes the 17th African country and the 135th globally to sign the said Convention.