The G20 has endorsed the OECD’s new global standard for automatic exchange of tax information during this weekend’s meeting in Sydney.
The G20 has endorsed the OECD’s new global standard for automatic exchange of tax information during this weekend’s meeting in Sydney. The group called on all financial centres to match its commitment to tackling tax evasion and said that it will continue to focus on ensuring that developing countries benefit from automatic information sharing alongside developed economies. Implementation plans will be agreed at the next meeting in September.
Algirdas Šemeta, EU commissioner for taxation, has welcomed the G20 finance ministers’ agreement. He said: ‘Today is another boost for transparency and fairness in global taxation. The EU knows the value of automatic information exchange in fighting tax evasion, and has been its international flag-bearer for years. As such, we brought significant, practical input to the table in developing this new global standard. Our focus has been on a standard that can be smoothly and effectively implemented, with minimum disruption for our businesses.’
The G20 has endorsed the OECD’s new global standard for automatic exchange of tax information during this weekend’s meeting in Sydney.
The G20 has endorsed the OECD’s new global standard for automatic exchange of tax information during this weekend’s meeting in Sydney. The group called on all financial centres to match its commitment to tackling tax evasion and said that it will continue to focus on ensuring that developing countries benefit from automatic information sharing alongside developed economies. Implementation plans will be agreed at the next meeting in September.
Algirdas Šemeta, EU commissioner for taxation, has welcomed the G20 finance ministers’ agreement. He said: ‘Today is another boost for transparency and fairness in global taxation. The EU knows the value of automatic information exchange in fighting tax evasion, and has been its international flag-bearer for years. As such, we brought significant, practical input to the table in developing this new global standard. Our focus has been on a standard that can be smoothly and effectively implemented, with minimum disruption for our businesses.’
