The first agreement for the exchange of information relating to tax matters concluded by South Africa with San Marino took effect on 28 January 2012.
South Africa has concluded a large number of double taxation agreements with its trading partners, which generally contain an article that authorises the exchange of information between South Africa and the treaty partner.
South Africa is a member of the Organisation for Economic Co-operation and Development’s (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes. At the Global Forum’s meeting in Mexico in 2009, it was decided to put a peer review mechanism in place for all forum members based on its standards of transparency and information exchange for tax purposes.
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Beric John Croome is a tax executive of Edward Nathan Sonnenbergs (ENS)
150 West Street
Tel: +27 11 269 7600
Fax: +27 11 269 7899