Country-by-country reviews launched
OECD says 15 countries are participating in a peer review process set up by the Global Forum on Transparency and Exchange of Information
International efforts to foil cross-border tax evasion has taken a
significant advance with the launch of a country-by-country reporting
initiative, the OECD has announced.
Australia, Barbados, Bermuda, Botswana, Canada, Cayman Islands, Denmark,
Germany, India, Ireland, Jamaica, Jersey, Mauritius, Monaco, Norway, Panama,
Qatar, Trinidad & Tobago are participating in a peer review process set up
by the Global Forum on Transparency and Exchange of Information.
The reviews are a first step in a three-year process approved in February by
the Global Forum in response to the call by G20 leaders at their Pittsburgh
Summit in September 2009 for improved tax transparency and exchange of
information.
OECD Secretary-General Angel Gurría said:
“The Global Forum has been quick to respond to the G20 call for a robust peer
review mechanism aimed at ensuring rapid implementation of the OECD standard on
information exchange.
“This is the most comprehensive peer review process in the world, and it is
based on decades of experience at the OECD of conducting reviews of this kind in
many other areas of policy making. I look forward to seeing the first results
later this year”.
Further reading:
Country-by-country
reporting edges closer to reality