International community reaches important milestone in fight against tax evasion
Tax
09/12/2020 - New international standards on the automatic exchange of information for tax purposes have so far been satisfactorily implemented by countries worldwide, marking an important milestone in the global fight against tax evasion, according to a new report published today by the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum).
The first
Peer Review of the Automatic Exchange of Financial Account Information shows that 88% of jurisdictions engaged in automatic exchange since 2017-18 were deemed to have satisfactory legal frameworks in place. The report notes that a second stage of the monitoring process, now underway, will assess the effectiveness of automatic exchange in more than 100 jurisdictions.
South Africa: Kieswetter appointed vice-chair of African tax forum
South African Revenue Service (SARS) Commissioner, Edward Kieswetter, has been appointed as Vice-Chair of the Africa Initiative by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
The announcement was made by the Organisation for Economic Co-operation and Development (OECD) Global Forum chairperson, Maria Jose Garde, on Friday.
Garde announced the Commissioner-General of the Kenya Revenue Administration, Githii Mburu, as the Africa Initiative chair.
The Africa Initiative is a programme of work focusing on tax transparency and exchange of information (EOI) in Africa. It was launched during the plenary meeting of the Global Forum on 28 October 2014 in Berlin by African members of the Global Forum, along with other partners.