The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by over 120 jurisdictions which participate in the work of the Global Forum on an equal footing.
The Global Forum is charged with in-depth monitoring and peer review of the implementation of the standards of transparency and exchange of information for tax purposes. These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commentary as updated in 2004, which has been incorporated in the UN Model Tax Convention.
The standards provide for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. “Fishing expeditions” are not authorised, but all foreseeably relevant information must be provided, including bank information and information held by fiduciaries, regardless of the existence of a domestic tax interest or the application of a dual criminality standard.
All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are being reviewed. This process is undertaken in two phases. Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework. Some Global Forum members are undergoing combined – Phase 1 plus Phase 2 – reviews. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.
The Global Forum on Transparency and Exchange of Information for Tax Purposes published new peer review reports today for 12 countries or jurisdictions, moving further ahead with its goal to implement global standards on transparency and exchange of information for tax purposes.
Lesotho’s economy is projected to attain modest growth averaging 4.9% over the medium term (2015-16), in spite of the constraining factors related to subdued growth in mining and quarrying and the effects of delayed renewal of the United States’ African Growth and Opportunity Act (AGOA) which expires in 2015, on the manufacturing of textiles and clothing.
With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.
These ready-made tables and charts provide for snapshot of aid (Official Development Assistance) for all DAC Members as well as recipient countries and territories. Summary reports by regions (Africa, America, Asia, Europe, Oceania) and the world are also available.
By participating more effectively in the global production of goods and services, Africa can transform its economy and achieve a development breakthrough, according to the latest African Economic Outlook, released at the African Development Bank Group’s Annual Meetings.
The charts show for each of the following countries and territories, and for the years 2009-2011: net ODA receipts, top ten donors of gross ODA, population and GNI per capita and bilateral ODA by sector.
The 2011 African Economic Outlook was launched at the African Development Bank’s Annual Meetings in Lisbon, Portugal on 6 June, 2011.
The First Regional Experts’ Meeting of the Joint OECD/AfDB Initiative to Support Business Integrity and Anti-Bribery Efforts in Africa took place on 13 – 14 January 2011 in Lilongwe, Malawi, and officially launched the Joint Initiative.
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Support for regional economic integration in Africa runs high amongst the continent’s international development partners and African elites. However, its expression in European forms of economic integration is not appropriate to regional capacities and in some cases may do more harm than good. This lacuna is exacerbated by technical and theoretical analyses rooted either in economics or international relations literatures. This paper