OECD Global Forum On Tax Transparency Adds Two Members

by Ulrika Lomas, Tax-News.com, Brussels

28 February 2013

The Organization for Economic Cooperation and Development (OECD) has welcomed two new members to the Global Forum on Transparency and Exchange of Information for Tax Purposes: Azerbaijan and Lesotho.

As the 119th and 120th 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.

OECD Secretary-General Angel Gurria said: “We are delighted to welcome Azerbaijan and the Kingdom of Lesotho as new Global Forum members. They will now be sitting at the table with countries from every continent - all jurisdictions determined to make tax systems transparent and fair to all. The growing membership of the Global Forum indicates that all regions of the world value its efforts to strengthen global tax co-operation.”

The Global Forum’s aim is to ensure that all jurisdictions adhere to the same high standard of international co-operation in tax matters and that governments come together to fight and prevent tax evasion. With the support of the Group of Twenty (G-20) nations, since 2010 the Global Forum has published 88 peer review reports containing 616 recommendations to help jurisdictions improve their co-operation in tax matters. As a result, more than half of the countries reviewed have already introduced or proposed changes to their laws.

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