G-20 Countries Pledge Support In Tax Evasion Fight

by Robert Lee, Tax-News.com, London

30 January 2003

Following a meeting with Mexican Chairman of the G-20, Franciso Gil Diaz, German Finance Minister, Hans Eichel revealed that the Group of 20 countries have pledged their support to the international clamp down on tax evasion and money laundering.

Speaking to reporters following talks with Mr Diaz, who is also Mexico's Finance Minister, Mr Eichel announced that:

'We are agreed we have to do everything we can to have a worldwide system of information exchange. Mexico has put this issue high on the agenda of the G-20.'

Mr Gil confirmed this, explaining that:

'We are ready and willing to work on this issue of exchange of information, bringing about better control of tax compliance.'

The G-20 comprises: the United States, Japan, Germany, France, the United Kingdom, Canada, Italy, Argentina, Australia, Brazil, China, Indonesia, India, Mexico, Russia, Saudi Arabia, South Africa, South Korea, and Turkey, as well as the European Union and the Bretton Woods Institutions (the International Monetary Fund (IMF) and the World Bank).

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