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Maldives Signs Multilateral Agreements on Exchange of Financial Account Information and Exchange of CbC Reports — Orbitax Tax News & Alerts

The Maldives Inland Revenue Authority has issued a release announcing the signing of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS-MCAA) and Multilateral Competent Authority Agreement on the exchange of Country-by-Country Reports (CbC-MCAA) on 12 August 2021. The signing of the CRS-MCAA and the CbC-MCAA follows the signing of the Convention on Mutual Administrative Assistance in Tax Matters by the Maldives on 11 August. In applying these exchange agreements, the release notes that the first filing deadline for CRS is before 31 July 2022 and the first filing deadline for CbC reporting is no later than 12 months after the end of the reporting fiscal year for reporting fiscal years commencing on or after 1 January 2021.

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