Tax Exchange Information Agreement Template for Austria

The Tax Exchange Information Agreement is a crucial instrument for implementing international tax transparency standards within the Austrian legal framework. This document type is essential when establishing formal channels for tax information exchange between Austria and other jurisdictions, particularly in light of global efforts to combat tax evasion and promote fiscal transparency. It becomes necessary when Austria needs to establish or update bilateral tax information sharing arrangements, ensuring compliance with EU Directive 2011/16/EU, OECD standards, and Austrian domestic law requirements. The agreement covers various types of tax information exchange including automatic, spontaneous, and on-request sharing of tax data, while incorporating necessary safeguards for data protection under GDPR and Austrian Data Protection Act. It's particularly relevant in the context of Austria's role as a significant financial center and EU member state, requiring careful balance between information sharing obligations and privacy protection requirements.

1. Parties: Identification of the contracting jurisdictions entering into the agreement

2. Background: Context of the agreement, including reference to international standards and mutual desire for tax cooperation

3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Competent Authority', 'Tax Matter', 'Information', etc.

4. Object and Scope: Statement of the agreement's purpose and the types of taxes covered

5. Exchange of Information Upon Request: Procedures and conditions for requesting and providing tax information

6. Automatic Exchange of Information: Framework for regular, systematic sharing of predefined tax information

7. Spontaneous Exchange of Information: Conditions under which parties may voluntarily share relevant tax information

8. Tax Examinations Abroad: Provisions for conducting or participating in tax examinations in the other jurisdiction

9. Confidentiality: Requirements for protecting exchanged information and limiting its use

10. Data Protection: Specific measures for protecting personal data in compliance with GDPR and local laws

11. Costs: Allocation of costs incurred in providing assistance

12. Implementation Legislation: Commitment to enact necessary legislation to give effect to the agreement

13. Language: Official language(s) of the agreement and communication

14. Dispute Resolution: Procedures for resolving disagreements about interpretation or application

15. Entry into Force and Termination: Provisions regarding when the agreement becomes effective and how it can be terminated