Cabinet news: Changes to tax agreement legislation; Ministry of tourism joins World Tourism Organization

By Aaron Humes: The Executive at its meeting this week approved the introduction of legislation to amend the Mutual Administrative Assistance in Tax Matters Act, and regulations thereunder, to remove legal deficiencies and more effectively implement the Common Reporting Standards on the automatic exchange of financial information in tax matters further to commitments with the European Union.

Also, Cabinet gave its approval for the Ministry of Tourism to apply to become a member of the United Nations World Tourism Organization, the world’s leading agency that is dedicated to the promotion of responsible, sustainable, and universally accessible tourism.

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