CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. African Nations Join OECD Tax Transparency Initiative

African Nations Join OECD Tax Transparency Initiative

by Lorys Charalambous,, Cyprus

19 October 2012

The Organization for Economic Cooperation and Development (OECD) has welcomed Burkina Faso and Cameroon to the Global Forum on Transparency and Exchange of Information for Tax Purposes.

As 112th and 113th members of the Global Forum they will participate in the peer review process which encourages all countries to adopt effective exchange of information in tax matters.

“We are delighted to welcome Burkina Faso and Cameroon as new Global Forum members”, said OECD Secretary-General Angel Gurria. “They are now among the jurisdictions directly involved in the international effort to make tax systems worldwide transparent and fair to all. Following their lead and that of other African countries, we look forward to continue strengthening international and regional cooperation in Africa. Domestic resource mobilization through a transparent and effective tax system is a key element for successful development policies.”

The Global Forum’s aim is to ensure that all jurisdictions adhere to the same standard of international cooperation in tax matters and governments come together to fight and prevent tax evasion.

Consistently supported by G-20 leaders, the Global Forum has, since 2010, published 79 peer review reports containing 495 recommendations to help jurisdictions improve their cooperation in tax matters. As a result, more than half of the countries reviewed have already introduced or proposed changes to their laws. The Global Forum recently launched Phase 2 of its review process, which will examine the effectiveness of countries' tax information exchange frameworks in practice.

The next meeting of the Global Forum is scheduled for October 26-27 in Cape Town, South Africa.

TAGS: compliance | tax | tax information exchange agreement (TIEA) | tax compliance | Burkina Faso | tax avoidance | law | Organisation for Economic Co-operation and Development (OECD) | Cameroon | International Organisation | mutual assistance agreement

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »