The Dominican Republic and Nauru have signed the [Multilateral Convention on Mutual Administrative Assistance in Tax Matters](http://www.oecd.org/tax/exchange-of-tax-information/conventiononmutualadministrativeassistanceintaxmatters.htm?utm_source=Adestra&utm_medium=email&utm_content=Multilateral%20Convention%20on%20Mutual%20Administrative%20Assistance%20in%20Tax%20Matters&utm_campaign=Tax%20News%20Alert%2029-06-2016&utm_term=demo), becoming the 97th and 98th jurisdictions to join the Convention.
Nauru also became the 83rd signatory of the Multilateral Competent Authority Agreement which operationalises the Automatic Exchange of Financial Account Information, which Nauru has committed to implement with first exchanges by 2018.
The Convention was developed jointly by the OECD and the Council of Europe in 1988 and amended in 2010 to respond to the call by the G20 to align it to the international standard on exchange of information and to open it to all countries, thus ensuring that developing countries could benefit from the new more transparent environment.
[OECD Release](http://www.oecd.org/tax/dominican-republic-and-nauru-become-the-97th-and-98th-jurisdictions-to-join-the-most-powerful-instrument-against-offshore-tax-evasion-and-avoidance.htm?utm_source=Adestra&utm_medium=email&utm_content=The%20Dominican%20Republic%20and%20Nauru%20become%20the%2097th%20and%2098th%20jurisdictions%20to%20join%20the%20most%20powerful%20in&utm_campaign=Tax%20News%20Alert%2029-06-2016&utm_term=demo)