Liechtenstein and San Marino have signed up to the OECD's tax information sharing agreement, the Convention on Mutual Administrative Assistance in Tax Matters, which aims to increase international co-operation on the assessment and collection of tax in a bid to tackle tax avoidance and evasion.

The two new signatories bring the total number of countries who have agreed to the convention to 63.

The signing took place at this week's meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, organised by OECD, in Indonesia. The event focused on discussion on the move by tax authorities worldwide from bilateral to multilateral cooperation and the shift to automatic exchange of information.