The international community has taken new steps to strengthen transparency and boost the comprehensive exchange of information between governments worldwide.
Members of the Global Forum on Transparency and Exchange of Information for Tax Purposes took significant steps during a 21-22 meeting in Jakarta, Indonesia to implement a global call for greater international co-operation against tax evasion. Actions taken include:
- Publication of new compliance ratings for 50 countries and jurisdictions on practical implementation of the Global Forum’s information exchange standard. Eighteen jurisdictions are rated Compliant [i], 26 jurisdictions are rated Largely Compliant [ii], two jurisdictions are rated Partially Compliant [iii] and four jurisdictions are rated Non-Compliant [iv]. Fourteen additional jurisdictions [v] were not given compliance ratings, pending further improvements to their legal and regulatory frameworks for exchange of information in tax matters. (see full compliance ratings)
- Establishment of a new Automatic Exchange of Information (AEOI) Group, open to all interested countries and jurisdictions, to prepare the move towards AEOI implementation. Italy was elected chair of this group.
- Agreement for further work aimed at strengthening the definition of beneficial ownership and the availability of this type of information.
- Agreement that the Forum continue monitoring implementation of the transparency and information exchange standard, while further developing its Terms of Reference and review processes.