OECD Global Forum Adds Four To Its Ranks

by Ulrika Lomas, Tax-News.com, Brussels

08 September 2017

Greenland, Cambodia, Madagascar, and Haiti have joined the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes. The forum now has 146 members.

In joining the Global Forum, the countries have committed to implementing both the international standard on the exchange of information on request and the standard on the automatic exchange of financial account information, the Common Reporting Standard, the OECD said.

Maria José Garde, Chair of the Global Forum, said: "The continuing growth in our membership has greatly strengthened international efforts to improve tax transparency for the benefit of all."

The Global Forum's aim is to ensure that all jurisdictions adhere to the same standard of international co-operation in tax matters. Its central purpose is to improve international tax transparency and fight international tax evasion and avoidance. This is done through a robust monitoring and peer review process, and providing technical assistance to member countries.

Greenland has committed to start its first automatic exchanges of financial account information in 2018. The Global Forum Secretariat will work with Cambodia, Haiti, and Madagascar to ensure they can participate in automatic exchange of information as soon as practicable, the OECD said.

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