OECD Announces 26 Jurisdictions’ Commitments to Implement MCAA on Automatic Exchange of Immovable Property Information

The Organization for Economic Cooperation and Development (OECD) Dec. 4 announced that Belgium, Brazil, Chile, Costa Rica, Finland, France, Germany, Greece, Iceland, Ireland, Italy, South Korea, Lithuania, Malta, New Zealand, Norway, Peru, Portugal, Romania, Slovenia, South Africa, Spain, Sweden, the U.K., Gibraltar, and subsequently Indonesia, committed to implement the Multilateral Competent Authority Agreement on the Automatic Exchange of Readily Available Information on Immovable Property (IPI MCAA), with the goal being to join the IPI MCAA by 2029 or 2030, subject to domestic procedures as applicable. The first exchanges are expected to commence in 2029. [France, Organization for Economic Cooperation and ...