Steady progress is being made towards tackling international tax evasion more effectively, according to reports presented to G20 leaders.

日期: June 22, 2012

标签: Tax, Regulation, Transparency

Steady progress is being made towards tackling international tax evasion more effectively, according to reports presented to G20 leaders.

A report by the Global Forum on Transparency and Exchange of Information for Tax Purposes has revealed that significant progress has been made since the last G20 Summit in November 2011.

In particular, the Global Forum has now launched a number of reviews to assess whether cross-border exchange of information is being implemented effectively.
 
The Global Forum says more than 800 cross-border exchange-of-information agreements have now been signed. And since the last Summit, four more countries – Colombia, Costa Rica, Greece and India – have signed a multilateral Convention to counter tax evasion. The number of signatory countries now stands at 35.

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters offers a wide range of tools to facilitate cross-border tax cooperation. It includes automatic exchange of information, multilateral tax examinations, and international assistance in the collection of tax due. At the same time, it imposes safeguards to protect the confidentiality of the information exchanged.
 
Meanwhile, a supplementary report by the OECD shows growing adherence to automatic exchange of tax information. The OECD also announced a new initiative to tackle the misuse of corporate vehicles such as shell companies. The work will tackle the issue of tax-base erosion and profit shifting by some multinational firms.

More details: http://www.oecd.org/dataoecd/19/8/50630814.pdf