Why and how to join the Global Forum

 

This web page gives you the benefits of joining the Global Forum as well as obligations when joining.

 

A. BENEFITS OF JOINING THE GLOBAL FORUM

The benefits of joining the Global Forum are:

1. It ensures participation in a unique forum where all financial centres are present, which considerably enhances developing countries’ ability to negotiate information exchange agreements.

2. The Global Forum is a unique source of expertise on transparency for tax purposes. In addition to being peer reviewed members are invited to participate in reviews of other jurisdictions. All Global Forum members have found that the peer review process provides an opportunity to reflect on how their legal frameworks can be improved to improve transparency domestically also.

3. To help in improving the legal framework for transparency and exchange of information you may benefit from assistance which the Global Forum may provide directly or in partnership with other providers.

4. Benefiting from the guidance and assistance the Global Forum will offer in respect of implementing the new Standard on AEOI, such as training, tools and advice. In addition, the Global Forum provides a unique forum where implementation challenges can be shared and resolved between members with a possibility of creating pilot projects.

5. Being a member of the Global Forum provides members with international visibility and heightens their profile as a reliable location in which to do business.  It should also assist in the fight against corruption and money laundering.

6. It will give the country a voice in the decision making process of the Global Forum as all decisions are taken by consensus.

 

B. OBLIGATIONS WHEN JOINING THE GLOBAL FORUM

Membership of the Global Forum carries with it the obligation to:

(i) commit to implement the standards on transparency and exchange of information (exchange of information on request and automatic exchange of information);

(ii) participate and contribute to the peer review process; and

(iii) contribute to the Global Forum budget as it is a self-funded body (the annual fee is either flat (EUR 15 300) or progressive for countries whose GNP is above USD 35 billion).

 

Should your country or jurisdiction wish to join the Global Forum or for any questions please send an email to gftaxcooperation@oecd.org

 

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