Global Forum on Transparency and Exchange of Information for Tax Purposes

Barbados hosts the 11th Global Forum Competent Authorities Conference

 

11th Global Forum Competent Authorities Conference

08/05/2024 - Barbados hosted the 11th Global Forum Competent Authorities Conference on 6-7 May 2024 in Bridgetown. Jointly organised by the Global Forum Secretariat and the Barbados Revenue Authority, the event was opened by the Hon. Ryan R. Straughn, M.P., Minister of Finance and Economic Affairs, and Louisa Lewis-Ward, Revenue Commissioner of the Barbados Revenue Authority, and brought together 150 participants from 65 jurisdictions.

Over the two days, the experience-sharing sessions covered practical matters related to the implementation of the standards on transparency and exchange of information on request (EOIR) and automatic exchange of financial account information (AEOI), as well as other essential aspects of international tax co-operation, such as cross-border assistance in tax collection or confidentiality requirements in the exchange of information.

The meeting – including through a session on the importance of fluid communication between exchanging administrations – highlighted the role Competent Authorities play to ensure an effective implementation of the EOI standards. The interactive format offered participants space and time for fruitful exchanges and helped them further nurture their professional networks.

The Global Forum Secretariat presented the latest developments in the international EOI standards, especially the progress related to the implementation of the Crypto-Asset Reporting Framework and the amendments to the Common Reporting Standard, as well as the latest capacity-building tools it has developed over the past months.

“We are very grateful to Barbados and its Revenue Authority for hosting this year’s conference,” said Zayda Manatta, Head of the Global Forum Secretariat. “We will continue to work with all Competent Authorities to further advance the full and effective implementation of the EOI standards, so that all 171 Global Forum member jurisdictions and their citizens ultimately benefit from our collective efforts for fairer tax systems.”

The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.

For more information, please contact [email protected].

 

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