In the aftermath of the release of the “Paradise Papers”, 200 delegates from more than 90 delegations met in Yaoundé, Cameroon for the 10th meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes which now includes 147 countries and jurisdictions.
The Global Forum adopted the first report on the status of implementation of the AEOI Standard a few weeks after almost 50 countries started exchanges of information under the new standard on automatic exchange of information, with another 53 countries starting in September 2018. The principle of annual implementation reports and peer reviews were agreed at the meeting to ensure effective implementation and a level playing field.
The Global Forum published peer reviews of Curaçao, Denmark, India, Isle of Man, Italy and Jersey. The publications bring to a total of 16 the number of second round reviews of the Forum’s 147 member countries and jurisdictions based on its international standard of transparency and exchange of financial account information on request. The standard was reinforced last year to tackle tax evasion more effectively, particularly in areas covering the concept of beneficial ownership.
Read the full news release here.
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2 comments on “The Global Forum on Tax Transparency Intensifies the Pressure on Tax Evaders Worldwide”
Hoards of people are so eager to burn the tax cheats on the stakes, like how they did so to witches in the past, that they are trampling all over the innocent little fish who are in the way.
“If you’re building an algorithm trying to find witches, you’re going to end up with the Salem Witch Trials,” Levinson-Waldman told The Daily Beast. “You may think you’re sweeping up witches, but you’re sweeping up a whole bunch of people who have cats and brooms.”
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