The government of the Seychelles has agreed to the automatic sharing of tax information, becoming the latest of 46 countries and jurisdictions to make a commitment to implement the new OECD global standard, which will see the first exchange of information in 2017.
The government of the Seychelles has agreed to the automatic sharing of tax information, becoming the latest of 46 countries and jurisdictions to make a commitment to implement the new OECD global standard, which will see the first exchange of information in 2017.
The new global standard – called for by the G8 under the UK’s presidency – will mark a step change in the ability of governments to tackle tax evasion and rapidly remove the remaining hiding places for those seeking to evade tax. Financial secretary to the Treasury, David Gauke, said: ‘Since our G8 leadership, the UK has pushed for greater tax transparency and, along with our G5 partners [France, Germany, Italy and Spain] has led the way in calling for global action to tackle tax evasion. The early adopters’ initiative that we have launched will enable HMRC to go further in clamping down on those who evade their responsibilities. The countries and jurisdictions that have committed to early adoption have shown leadership and demonstrated commitment to fighting tax evasion, removing the hiding places which are exploited by the dishonest and corrupt.’
The finance ministers of the G5 countries added in a joint statement: ‘We warmly welcome the Seychelles’ decision to join the initiative for early adoption of the new global standard on automatic exchange of tax information, thereby taking a leading role in the fight against tax evasion. We call on other financial centres to match the commitment made by the Seychelles, and by 45 other countries and jurisdictions, so that we can rapidly stamp out tax evasion on a global basis.’
The government of the Seychelles has agreed to the automatic sharing of tax information, becoming the latest of 46 countries and jurisdictions to make a commitment to implement the new OECD global standard, which will see the first exchange of information in 2017.
The government of the Seychelles has agreed to the automatic sharing of tax information, becoming the latest of 46 countries and jurisdictions to make a commitment to implement the new OECD global standard, which will see the first exchange of information in 2017.
The new global standard – called for by the G8 under the UK’s presidency – will mark a step change in the ability of governments to tackle tax evasion and rapidly remove the remaining hiding places for those seeking to evade tax. Financial secretary to the Treasury, David Gauke, said: ‘Since our G8 leadership, the UK has pushed for greater tax transparency and, along with our G5 partners [France, Germany, Italy and Spain] has led the way in calling for global action to tackle tax evasion. The early adopters’ initiative that we have launched will enable HMRC to go further in clamping down on those who evade their responsibilities. The countries and jurisdictions that have committed to early adoption have shown leadership and demonstrated commitment to fighting tax evasion, removing the hiding places which are exploited by the dishonest and corrupt.’
The finance ministers of the G5 countries added in a joint statement: ‘We warmly welcome the Seychelles’ decision to join the initiative for early adoption of the new global standard on automatic exchange of tax information, thereby taking a leading role in the fight against tax evasion. We call on other financial centres to match the commitment made by the Seychelles, and by 45 other countries and jurisdictions, so that we can rapidly stamp out tax evasion on a global basis.’
