Moves by a number of financial centres over recent weeks in favour of transparency and exchange of information on tax matters have given a welcome boost to efforts counter international tax evasion, OECD Secretary-General Angel Gurría said.
The Isle of Man and Germany announced that they have signed a bilateral agreement for the exchange of information for tax purposes, bringing to 13 the number of such agreements entered into by the Isle of Man.
Guernsey and the United Kingdom have today signed a bilateral agreement for exchange of information for tax purposes bringing to 10 the number of such agreements entered into by Guernsey.
Some 16 new bilateral agreements on exchange of information for tax purposes signed this week between OECD countries and the British Virgin Islands, Guernsey and Jersey mark an important step forward in efforts to bring greater transparency to cross-border financial transactions.
On October 15, OECD will publish the 2008 edition of its annual Revenue Statistics, which presents detailed comparable tax data in a common format for all OECD countries from 1965 onwards.
The Isle of Man and the United Kingdom announced that they have signed a bilateral agreement for the exchange of information for tax purposes, bringing to 11 the number of such agreements entered into by the Isle of Man.
Germany has joined 15 other countries in signing the OECD-Council of Europe Convention on Mutual Administrative Assistance in Tax Matters, in a step that will help it to combat cross-border tax evasion more effectively in today’s open global economy.
The OECD has released a report on the progress in eliminating harmful tax practices in OECD countries.