Benin joins the Global Forum on Transparency and Exchange of Information for Tax Purposes
09/06/2017 - Benin has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes as its 142nd member. Its membership reinforces its commitment to implement both the international standard of exchange of information on request and the standard of automatic exchange of financial account information.
"Benin is proud and delighted to join the international community in the fight against tax avoidance and evasion", said Romuald Wadagni, Finance Minister of Benin. "This step will help to reinforce domestic resource mobilization which is critical for sustaining long-term financing for development and the effective delivery of public goods and services”.
Benin is now part of the international community in the fight against tax avoidance and evasion and will be working closely with all members of the Global Forum as well as the Global Forum Secretariat to reach its goals in implementing the standards on exchange of information on request and automatic exchange of financial account information.
The Global Forum is the world’s leading multilateral body to ensure that all jurisdictions adhere to the same high standard of international co-operation in tax matters. This is done through a robust monitoring and peer review process which Benin will also be subject to. The Global Forum also has an extensive technical assistance programme to provide support to its members to implement the standards and quickly use the tools available to tax administrations to fight cross-border tax evasion.
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