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Reports to G20 highlight tax information exchange – PDF

Reports from the Global Forum on Transparency and Exchange of Information for Tax Purposes and the Organisation for Economic Co-operation and Development submitted to the G20 summit yesterday highlight the progress being made in tackling tax evasion practices. Download the reports here. 

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Date:
Updated:
TheBahamasInvestor.com
Wednesday, June 20, 2012
Wednesday, June 20, 2012

G2012A report by the Global Forum on Transparency and Exchange of Information for Tax Purposes claims that efforts to increase transparency and tax information exchange have been progressing well.

The report was submitted to the G20 summit in Los Cabos, Mexico, yesterday.

“Since the last report sent to the G20 in November 2011, the Global Forum has made steady progress towards its goal of increased transparency,” the report states.

Phase I of the Global Forum’s peer review programme is coming to an end.

“Overall, the quality of cooperation within the Global Forum has been very satisfactory, with new members joining and more and more jurisdictions implementing policy and legislative changes that address the deficiencies identified in their reviews. The membership of the Global Forum, which stood at 106 in November 2011, has now increased to 109.”


The Global Forum reports that more than 800 cross-border exchange of information agreements have now been signed.

A supplementary report by Organisation for Economic Co-operation and Development (OECD) was also submitted at the summit.

Download the G20 Report here and the OECD Supplementary Report here.

The International Association of Insurance Supervisors annual event runs this week in the Cayman Islands drawing more than 120 industry experts from around the world to discuss Insurance Core Principles, microinsurance, ComFrame and financial stability.

Top chefs in The Bahamas are confident of success ahead of the Taste of the Caribbean culinary competition taking place this weekend in Miami. Watch a presentation by Stuart Bowe, president of the Bahamas Hotel Association, here.

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