OECD tax forum ‘a missed opportunity’

OECD tax forum ‘a missed opportunity’

KPMG laments that nothing was done to address ‘trust’ issue

The global tax forum which took place in Seoul under the auspices of the OECD
Centre for Tax Policy Administration missed an opportunity to address the
problem of a lack of trust between taxpayers and governments, according to KPMG
International.

The forum, which brought together heads and deputy heads of tax authorities
from 35 countries set out a series of measures, including better cross-border
exchange of information on tax planning schemes, and an international review of
the role of intermediaries in tax planning, intended to improve the enforcement
of national tax law.

But it did not offer any ideas on how the trust gap can be closed, KPMG
claimed.

‘A failure to close the trust gap simply puts more pressure on tax
administrations’ said Loughlin Hickey, KPMG’s global managing partner for tax.

’This meeting offered a real opportunity to signal an intent to explore ways
to bring governments and taxpayers together. Both have an interest in
sustainable growth stimulated by private sector investment, often from foreign
sources, and government programmes funded by tax revenues.

‘Tax intermediaries share this interest and have a key role in enabling
taxpayers to comply with ever more complex legislation, ‘ he added.

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