Overview
- The Dec. 4 joint statement, published by South Africa’s revenue authority, welcomes the OECD’s new IPI MCAA for exchanging readily available data on real estate.
- Signatories include 24 countries such as France, Germany, the UK, Brazil and Korea, with Gibraltar also signing the statement.
- The initiative would enable automatic sharing of information on property ownership, acquisition and disposal transactions, and rental income.
- The group aims to join the IPI MCAA by 2029 or 2030 subject to domestic procedures, positioning the framework as a complement to CRS and CARF.
- Ireland announced plans to be an early adopter and said existing confidentiality safeguards, including GDPR obligations, would continue to govern any exchanges.