A 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.