|Memorandum of Association||
The process of ‘cleaning’ money from criminal or illicit activities (including tax evasion) to give it the appearance of originating from a legitimate source.
|Multilateral information exchange||
Exchange of information between the tax authorities of states can be done bilaterally or multilaterally. When done bilaterally, two main types of agreements are used. The first is Double Taxation Agreements (DTAs). The second is Tax Information Exchange Agreements (TIEAs). Bilateral Double Taxation Agreements and Tax Information Exchange Agreements are agreed between the two participating states: no other state is party to the agreement. In multilateral agreements more than two states are parties to the agreement. Multilateral agreements are rare: the European Union Savings Tax Directive is a notable exception.