OECD Secretary-General, speaking to a press conference this week, announced recent commitments to the internationally agreed tax standard on exchange of information by Costa Rica, Malaysia, Philippines and Uruguay.
These were the four jurisdictions surveyed by the OECD Global Forum which had not made commitments as of April 2. They have now officially informed the OECD that they commit to co-operate in the fight against tax abuse, that this year they will propose legislation to remove the impediments to the implementation of the standard and will incorporate the standard in their existing laws and treaties. As a result, they have been moved to the category of ‘jurisdictions that have committed to the internationally agreed tax standard, but have not yet substantially implemented’ in the OECD progress report first issued on 2 April.
At a joint press conference with EU Commissioner László Kovács, the Secretary General of the OECD Angel Gurria said: “We continue to see quick progress in the adoption of the OECD standard. I very much welcome that all jurisdictions surveyed by the OECD Global Forum are now committed. We need a level playing field and are looking forward to quick implementation of the standard.”
The progress report issued by the OECD on April 2, following the G20 London Summit, shows progress in the implementation of the standard on exchange of information for tax purposes. The OECD will now work in the framework of its Committee on Fiscal Affairs and the Global Forum with all jurisdictions concerned on the implementation of these commitments, speeding up the process of concluding and negotiating tax information exchange agreements, achieving a swift and effective implementation, reviewing our Global Forum, and engaging developing countries, concluded the OECD statement.
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