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Greece has signed the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement that was developed jointly by the Council of Europe and the OECD and that is open for signature to all countries.
Increased domestic resource mobilization is widely accepted as crucial for countries to successfully meet the challenges of development and achieve higher living standards for all their people.
Uruguay has signed 7 new agreements providing for the exchange of tax information, showing its willingness to implement the global standards.
OECD countries acknowledge that taxes must play a role in the process of fiscal consolidation as they battle unprecedented budget deficits. In 2010, the majority of OECD governments have stabilised their tax to GDP, with the average ratio moving up slightly from 33.8% in 2009 to 33.9% in 2010.
Tax Transparency 2011: Report on Progress, a report prepared by the Global Forum on Transparency and Exchange of Information for Tax Purposes, was delivered to the G20 in Cannes and is now available to journalists.&
"Tax co-operation and compliance are of crucial importance for all countries and citizens - and not only in times of a tight fiscal and budgetary environment,” said OECD Secretary-General Angel Gurría from the Cannes G20 Summit.
“Governments have signed more than 700 agreements to exchange tax information. These agreements have already yielded €14 billion in additional revenues, to 20 countries, from more than 100 000 tax payers who had hidden assets offshore.”
We no longer talk about commitments to change; today, we are making change happen. We are implementing the now universally accepted international standard of transparency and exchange of information, said OECD Secretary-General.
High unemployment rates, in the wake of the financial and economic crisis, have governments scrambling to create jobs. A new OECD report suggests that well-targeted tax reforms can encourage employers to hire more people and the jobless to look for employment.
Furthering efforts to fight against international tax evasion and bank secrecy, members of the Global Forum on Transparency and Exchange of Information for Tax Purposes have issued 12 new peer review reports.