The issue of illicit financial flows (IFFS) is at the forefront of the international agenda. Both the OECD and the High Level Panel have focused attention on this problem and have identified ways in which to tackle it.
The international community should call time on all remaining holdouts who have yet to implement internationally agreed tax transparency standards, OECD Secretary General Angel Gurría said in a new report to the G20.
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This report highlights the progress we have made to date to improve global tax transparency, identifying the weaknesses which remain, and outlining possible next steps where the OECD can work to support a collective response to these latest developments.
Government officials from around the world have called on the OECD to convene a special project meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) Network to explore possibilities of co-operation and information-sharing, identify tax compliance risks and agree collaborative action, in light of the “Panama Papers” revelations.
The “Panama Papers” revelations have shone the light on Panama’s culture and practice of secrecy. Panama is the last major holdout that continues to allow funds to be hidden offshore from tax and law enforcement authorities
As I said in Antalya, the three ”I”s in taxation in 2016 are about implementation, implementation and implementation. We are delivering today the new inclusive framework to support global BEPS implementation.
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This report consists of two parts. Part I is a report by the OECD Secretary-General regarding (A) the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project; (B) tax transparency with the single global common standard on Automatic Exchange of Information (AEOI); and (C) Tax and Development. Part II is an updated Progress Report to the G20 by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Thanks to your leadership “fair play” will become the name of the game in international tax policies. With the set of agreed measures, the location of the profits of multinationals and where they pay their taxes will be the same as the location of the activities generating these profits, with the aim of reversing revenue losses in the public coffers of up to a quarter trillion US dollars annually.
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This report consists of two parts. Part I is a report by the OECD Secretary-General regarding (A) the OECD/G20 BEPS Project; (B) tax transparency with the single global common standard on Automatic Exchange of Information (AEOI); and (C) Tax and Development. Part II is a Progress Report to the G20 as adopted by the Global Forum on Transparency and Exchange of Information for Tax Purposes at its meeting on 28-30 October 2015.
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Report by the OECD Secretary-General regarding the final package of the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project. Version française: http://bit.ly/1PnzwnU