Heads of G20 countries meet today, September 5, 2013 St. Petersburg, where they will sign an agreement to counter ‘Aggressive Tax Planning’ by multinational companies. The global paradigm change in the fight against tax avoidance and evasion is set to be taken further by G20 leaders. The European Union, with its considerable expertise and experience – for example, in creating an European Union-wide system for the automatic exchange of information, or the fight against aggressive tax planning – will push for the automatic exchange of information to become the global standard.

It will, notably, support any efforts that help to ensure its swift implementation. The EU will also strongly support the OECD’s action plan to fight corporate tax avoidance worldwide, which this summit is expected to endorse.

OECD’s Action Plan to Combat Tax Avoidance

Co-operation between tax administrations is critical in the fight against tax evasion and a key aspect of that cooperation is exchange of information. Political interest has increasingly focused on the opportunities provided by automatic exchange of information. Read More