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25 Feb 10 Amended tax treaty with Malaysia to boost tax information flows

In media release No 2010/027, 24 February 2010, the Assistant Treasurer, Senator Nick Sherry, announced that at a ceremony in Canberra on that day, he signed an amended tax treaty between Australia and Malaysia, enabling the greater exchange of information on potential tax abuse.

"The protocol I've signed today amends the existing tax treaty between our two countries, allowing the exchange of a broader range of information, including banking details and transactions...In particular, the Tax Office will be able to request information relevant to the imposition of all Australian federal taxes, including the goods and services tax," Senator Sherry said.

Legislation will be introduced into Parliament in relation to the expanded protocol as soon as practicable.


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