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Austria entered the most severe recession in decades. This triggered prompt policy measures to stabilise the real economy and financial markets, which will deteriorate significantly the fiscal position.
As in most other OECD countries, the fiscal situation in the UK has deteriorated sharply. While to date the discretionary fiscal stimulus has been relatively modest, after around the turn of the century the underlying fiscal position weakened more than anticipated. While there was some subsequent improvement, particularly in tax receipts, the severe impact of the downturn on the public finances and the borrowing related to the rescue
The financial crisis might not have been caused by taxation, but it nonetheless raises concerns about evasion, compliance and transparency in financial markets. The OECD Observer asked South Africa's minister of finance, Pravin Gordhan, who chairs the OECD's Forum on Tax Administration, to explain.
Article in the OECD Observer (June 2009). Though OECD work on making international tax fairer began over 50 years ago, it was not until 1998 and a report on harmful tax competition that the OECD stepped up its work against tax evasion, tax havens and abuse.
Interview with Klaus Tschütscher, Prime Minister of Liechtenstein, for the OECD Observer (June 2009).
Article for the OECD's Observer (June 2009), written by Jeffrey Owens, Director of the Centre for Tax Policy and Administration.
Article for the OECD Observer (June 2009), written by Jeffrey Owens, Director, and Richard Parry, Head of the Global Relation Unit, Centre for Tax Policy and Administration.
Article in the OECD Observer (June 2009).
Addressing a conference organised by the French and German governments in Berlin on the fight against tax fraud and evasion, OECD Secretary-General Angel Gurría welcomed progress in implementing international standards of transparency and exchange of information for tax purposes. He announced that the next meeting of the Global Forum on Transparency and Information Exchange, which guides the OECD’s work in this area, will take place
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At the invitation of Mr Peer Steinbrück, Minister of Finance of Germany, and of Mr Eric Woerth, Minister for the Budget, Public Accounts and the Civil Service of France, ministers and senior officials of 19 countries came together in Berlin on 23 June 2009 in order to review the progress that has been made with respect to the implementation of the OECD standard on transparency and exchange of information in tax matters since their