14/04/2016 – The international community should call time on all remaining holdouts who have yet to implement internationally agreed tax transparency standards, OECD Secretary-General Angel Gurría said in a new report to the G20.
The report, delivered today to G20 Finance Ministers meeting in Washington DC, points out that a number of jurisdictions have yet to properly implement the exchange of tax information on request, first agreed in 2009. It also notes that a number of others have refused to commit to the new standard for automatic exchange scheduled to go into effect in 2017-18.
“Our standards on tax transparency are robust,” Mr Gurría said. “They need to be effectively implemented worldwide, by everyone, with no exceptions, so there’s nowhere left to hide.”
The OECD Secretary-General’s report proposes that the G20 take additional steps to ensure that all countries and jurisdictions immediately endorse and implement all global standards devised and implemented by the Global Forum on Transparency and the Exchange of Information for Tax Purposes.