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News & Events
News
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30-Aug-2011
Due to the recent financial and economic crisis, global corporate losses have increased significantly. Numbers at stake are vast, with loss carry-forwards as high as 25% of GDP in some countries. Though most of these claims are justified, some corporations find loop-holes and use ‘aggressive tax planning’ to avoid taxes in ways that are not within the spirit of the law.
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Andorra makes progress on exchange of information
24-Feb-2010
The Principality of Andorra has today signed tax information exchange agreements with the 7 Nordic economies (Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden). Accordingly, Andorra now moves into the category of jurisdictions considered to have substantially implemented the standard.
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25-Nov-2009
Costa Rica announced that it has signed a tax information exchange agreement with Argentina. The agreement, which meets the internationally agreed standard for exchange of information for tax purposes, is the first such agreement signed by Costa Rica. It provides for various forms of exchange of information, including exchange of information on request, simultaneous and industry-wide examinations, and tax examinations abroad.
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11-Nov-2009
Liechtenstein has signed two additional Tax Information Exchange Agreements with Belgium and the Netherlands bringing to 12 the number of agreements it has on exchange of information for tax purposes and thus crossing the threshold for being considered to have substantially implemented the internationally agreed standard in this area.
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28-Sep-2009
In a statement following their 24-25 September meeting in Pittsburgh, the G20 leaders reaffirmed their commitment to maintaining the momentum in dealing with tax havens, money laundering, proceeds of corruption, terrorist financing, and prudential standards.
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25-Sep-2009
Welcoming the adoption of the Framework for Strong, Sustainable and Balanced Growth by G20 leaders gathered in Pittsburgh for the G20 summit, OECD Secretary-General Angel Gurría said new sources of jobs and growth needed for the global economy to effect a sustained recovery, will only emerge if the right structural policies are adopted by the world’s leading global economies.
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11-Sep-2009
Aruba and the Netherlands Antilles have signed bilateral agreements with seven Nordic economies - Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden - on exchange of information for tax purposes.
This moves both jurisdictions into the category of ‘Jurisdictions that have substantially implemented the internationally agreed tax standard’ in the Progress Report initially published by the OECD Secretariat on 2 April 2009. Eight jurisdictions have now moved into the substantially implemented category since the Progress Report was first published.
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07-Sep-2009
In a statement following their 5 September meeting in London, in advance of Pittsburgh, the G20 Finance Ministers and Central Bank Governors reaffirmed their commitment to strengthen the financial system, but stated that more needs to be done to maintain momentum. They also stated that unprecedented progress has been made since the November 2008 G20 Summit with regard to the OECD’s standards of tax information exchange and transparency.
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03-Sep-2009
Today, on the eve of the Pittsburgh G20 meeting, the Global Forum on Transparency and Exchange of Information dealing with tax matters, took major steps to confirm the end of the era of banking secrecy as a shield for tax evaders. Hailing the breakthrough OECD Secretary-General Angel Gurría said “what we are witnessing is nothing short of a revolution."
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31-Aug-2009
The fourth annual assessment of transparency and tax information exchange policies in more than 80 economies is now available.
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