The convention promotes international co-operation in the assessment and collection of taxes.

It will be an effective and practical tool to help tax authorities in their everyday work as taxpayers are increasingly operating on a global basis, with tax authorities moving from bilateral to multilateral co-operation and from exchange of information on request to more effective forms of collaboration.

As Greece looks forward to improve its economy with a new financial package supported by the Euro area countries and other stakeholders, the convention will allow Greece to work more closely with other countries to combat tax avoidance and evasion.

Angel Gurría, OECD Secretary-General said, "In addition to demonstrating its commitment to following the international standards on tax transparency and exchange of information, this signing is a step towards Greece’s efforts to restore the longer-term sustainability of its public finances."

"The Convention will help Greece improve its internal tax collection system and pursue the tax revenues lost to tax avoidance and evasion. This will ensure that individuals and multinational enterprises pay the right amount of tax, at the right time and in the right place," She further added.

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