Brussels, 19/06/2014 (Agence Europe) - Andorra is now the 48th country to sign the OECD declaration on the automatic exchange of tax information (AEI), announced the OECD on Wednesday 18 June. Andorra is one of the five countries with which the European Commission is negotiating changes to tax agreements (the others being Switzerland, Monaco, San Marino and Liechtenstein). “Signing the Declaration is an important commitment, which shows the significant progress being made in Andorra”, said Pascal Saint-Amans of the OECD Centre for Tax Policy and Administration. The AEI rules were signed in Paris on 6 May 2014 by all OECD member countries, including Switzerland, and also by Argentine, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa. The AEI rules were developed by the OECD and approved by G20 finance ministers in February. They require jurisdictions to collect information from banks and send it automatically to other jurisdictions each year. The OECD is developing technical solutions for putting AEI into practice that will be unveiled at the G20 finance minsters' summit in September. (EL)