Exchange of Information enables cross-border assistance in tax administration and enforcement while preserving confidentiality safeguards. The agreement requires competent authorities to exchange information foreseeably relevant to determination, assessment, collection, recovery and enforcement of taxes, and to investigations or prosecutions of tax matters; such information is to be treated as confidential under Article 8, while rights and safeguards afforded persons by the requested Party's laws or administrative practice remain applicable so long as they do not unduly prevent or delay effective exchange.