Senegal today signed the [Multilateral Convention on Mutual Administrative Assistance in Tax Matters](http://www.oecd.org/tax/exchange-of-tax-information/conventiononmutualadministrativeassistanceintaxmatters.htm), becoming the 93rd jurisdiction (and the 11th country of the African continent) to join it. His Excellency, Amadou Ba, Minister of Economy, Finance and Planning of Senegal, signed the Convention in the presence of the OECD Secretary-General Angel Gurría.
The Convention is seen as the ideal instrument for swift implementation of the new [Standard for Automatic Exchange of Financial Account Information in Tax Matters](http://www.oecd.org/tax/exchange-of-tax-information/standard-for-automatic-exchange-of-financial-information-in-tax-matters.htm) developed by the OECD and G20 countries as well as for automatic exchange of country by country reports under the OECD/G20[ Base Erosion and Profit Shifting (BEPS) Project](http://www.oecd.org/tax/beps.htm). It is also a powerful tool for the fight against illicit financial flows.
By signing the Convention, Senegal takes a further step in fighting tax evasion and avoidance, building on its participation in the Global Forum on Transparency and Exchange of Information for Tax Purposes, which it joined in 2012. Senegal today also became the 32nd signatory of the [Multilateral Competent Authority Agreement](http://www.oecd.org/tax/exchange-of-tax-information/cbc-mcaa.pdf) for the automatic exchange of Country-by-Country reports (CbC MCAA), which is based on Article 6 of the Convention and puts in place the automatic exchange framework for exchanging Country-by-Country Reports, as contemplated by BEPS Action 13.
Click [here](http://www.oecd.org/tax/exchange-of-tax-information/senegaltakeskeystepstowardsimprovingtaxtransparency.htm) for full release issued by the OECD today.