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Average tax and social security burdens on employment incomes fell slightly in 24 out of 30 OECD countries last year as governments struggled to shore up faltering economies amid the worst recession in decades.
The OECD and the Council of Europe have agreed on an update to an international treaty that aims to help governments enforce their tax laws, as part of the worldwide drive to combat cross-border tax evasion.
Since the April 2009 G20 London Summit, almost 300 tax agreements have been signed to meet OECD standards on tax transparency and effective exchange of information. All OECD and G20 countries are committed to these standards.
A new law on access to bank information will enable Chile to exchange banking information under existing tax treaties, thereby complying with the internationally agreed tax standard for exchange of information.
The recession is taking its toll on tax receipts across the OECD. Aggregate tax burdens in OECD economies, calculated as the ratio of tax revenues to gross domestic product, or GDP, were unchanged between 2006 and 2007, and then fell in 2008.
Singapore has today signed a protocol with France that brings the two countries’ to bilateral tax treaty into line with the OECD standard on transparency and exchange of information for tax purposes.
Attending the International tax dialogue conference in Beijing, Mr. Gurría reminded that globalisation requires strengthened international co-operation on taxation which is essential to finance public services, infrastructure development and poverty reduction in rich and poor countries alike.
Angel Gurría reported to G20 on progress towards greater transparency and international cooperation in tax matters. Read the latest Progress Report listing where jurisdictions stand in implementing the international tax standard.
Switzerland has signed a protocol to its tax treaty with the United States that incorporates the internationally agreed tax information standard.
This is the 11th agreement for the exchange of information in tax matters signed by Switzerland that meets the OECD standard. The agreement with the United States continues the trend of agreements signed by Switzerland with its major economic partners. Of its 11 agreements, 10 are with OECD
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.