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Federal Budget 2021-22: Exchange of Information (EOI) Country Updates

Federal Budget 2021-22: Exchange of Information (EOI) Country Updates

The Government has a list of countries of which it shares an effective exchange of information (EOI) agreement, to assist in preventing potential offshore tax avoidance and evasion.

The Government has updated the list of countries that have an effective EOI agreement with Australia to include

  • Armenia;
  • Cabo Verde;
  • Kenya;
  • Mongolia; and
  • Oman.

These jurisdictions will be eligible for the MIT concessional withholding tax rate of 15%, rather than the default rate of 30%.

The updated list will be effective form 1 January 2022.

 

 

The information contained in this blog is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. In all cases, you should consult with a professional advisor familiar with your factual situation for advice concerning specific matters before making any decisions. By reading this blog, you confirm your understanding of this disclaimer.

Toni Eisenhut
Toni Eisenhut
Got questions? Speak to our team of experienced tax lawyers today.


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