According to recent reports, the tax information exchange agreement between Australia and Brunei entered into force on 25 February 2016. The treaty, signed 6 August 2013, is the first of its kind between the two countries and is in line with the OECD standard for information exchange. It generally applies with respect to taxable periods beginning on or after 1 January 2012 or, where there is no taxable period, all charges to tax arising on or after 1 January 2012.