Sign In
Web Creator

Convention on Mutual Administrative Assistance in Tax Matters (MAC), Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA) and Tax Information Exchange Agreement (TIEA)


Convention on Mutual Administrative Assistance in Tax Matters (MAC)

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) was developed jointly by the OECD and the Council of Europe in 1998 and amended by Protocol in 2010. MAC is the most comprehensive multilateral instrument available for all forms of tax co-operation to tackle tax evasion and avoidance. More than 135 jurisdictions currently participate in the MAC (http://www.oecd.org/tax/exchange-of-tax-information/Status_of_convention.pdf). Brunei Darussalam has signed MAC on 12 September 2017. MAC has been entered into force for Brunei Darussalam on 1 July 2019.

Common Reporting Standard Multilateral Competent Authority Agreement (CRS MCAA)

The Multilateral Competent Authority Agreement (MCAA) is a multilateral framework agreement that provides a standardised and efficient mechanism to facilitate the automatic exchange of information in accordance with the Standard for Automatic Exchange of Financial Information in Tax Matters. It avoids the need for several bilateral agreements to be concluded. The text and signatories of the MCAA can be found at http://www.oecd.org/tax/exchange-of-tax-information/multilateral-competent-authority-agreement.htm. Its design as a framework agreement means the MCAA always ensure each signatory has ultimate control over exactly which exchange relationships it enters into and that each signatory's standards on confidentiality and data protection always apply. The legal basis for the MCAA (which is agreed at competent authority level) rests in Article 6 of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) which provides for the automatic exchange of information between Parties to the MAC, where two Parties subsequently agree to do so. Brunei Darussalam has signed the (declaration) MCAA on 12 December 2019.

The Government of Brunei Darussalam has also signed the Tax Information Exchange Agreement (TIEA) as part of its commitment towards international exchange of information. Unlike DTA, the objective of TIEA is to promote cooperation in tax matters through exchange of information between the signatory countries especially cooperation in countering abuses of the financial system.

STATUS OF BRUNEI'S TIEA WITH OTHER COUNTRIES

​Country​Date of Enforcement
​Links
​Canada​26 December 2014​Malay version | English version
Iceland​​19 April 2015Malay version | English version
​Norway​25 April 2015Malay version | English version
​Finland​1 May 2015Malay version | English version
​Greenland​7 August 2015Malay version | English version
​Sweden​20 December 2015Malay version | English version
​Australia​25 February 2016Malay version | English version
​Denmark​17 April 2015Malay version | English version
​Faroes
​26 March 2016
Malay version | English version
India
30 January 2020
Malay Version | English Version