Signing of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) by His Excellency Sibusisiwe Mngomezulu Ambassador Extra Ordinary Plenipotentiary of Eswatini to Belgium and the European Communities

On the 29th of September 2020, Ambassador Sibusisiwe Mngomezulu officiated at the signing of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC). The event was held at the OECD premises, in Paris France.

The MAC is an Agreement designed to facilitate international co-operation among tax authorities, to improve their ability to tackle tax evasion and avoidance and ensure full implementation of their national tax laws, while respecting the fundamental rights of taxpayers. During his remarks, the Ambassador observed that trade liberalisation has eased the international movement of persons, capital, goods and services; and acknowledged that as a result of the transactional activity related to this; an instrument of this nature was necessary to promote and facilitate international cooperation between the tax authorities of the signatories to the Convention.

He further observed that the operationalisation of the Convention would enhance the integration of the Kingdom of Eswatini into regional and international markets, by supporting an unprecedented level of transparency in tax matters, which is necessary for the growth of the economy. In this regard, the Convention will allow for the country to engage in other activities that will increase transparency in tax matters; such as the spontaneous exchange of information, simultaneous examinations, performance of tax examinations abroad, assistance in the recovery of tax claims and measures of conservancy, as well as facilitate joint audits.

The Ambassador also expressed the appreciation of the Government of the Kingdom of Eswatini for the support given by the OECD in capacity building while preparations for accession to the MAC were underway.

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