On 30 July 2014, the South African National Assembly passed the law ratifying the pending tax information exchange agreement with the Cook Islands. The agreement was signed 25 October 2013, and is the first of its kind between the two countries.
The agreement will enter into force 30 days after the ratification instruments are exchanged. It will apply for criminal tax matters from the date of its entry into force, and for other tax matters for tax periods beginning on or after that date.