Saudi Arabia and Uruguay Sign Multilateral Agreement on Automatic Exchange of Financial Account Information

According to an update from the OECD on 2 November 2016, Saudi Arabia and Uruguay have signed the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial Account Information. The MCAA provides for the exchange of information as part of the Common Reporting Standard (CRS) developed by the OECD. Both Saudi Arabia and Uruguay intend for their first exchange of information to take place by September 2018.

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