Outcomes of Sixth Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes

Outcomes of Sixth Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes

The Global Forum on Transparency and Exchange of Information for Tax Purposes met on the sixth time in Jakarta, Indonesia, on 21-22 November 2013. During the Jakarta meeting, six new countries became members: Azerbaijan, Dominican Republic, Lesotho, Romania, Senegal and Ukraine.

During the two-day meeting of the Global Forum the following significant actions were taken:

1. An important development is the publication of new compliance ratings for 50 countries and jurisdictions on practical implementation of the Global Forum’s information exchange standard.

  • 18 jurisdictions, among them Canada, China, France, India and Japan, are rated Compliant,
  • 26 jurisdictions, among them the U.K. and the U.S.A., are rated Largely Compliant,
  • 2 jurisdictions, Austria and Turkey, are rated Partially Compliant, and
  • 4 jurisdictions, Luxembourg, Cyprus, the British Virgin Islands and the Seychelles, are rated Non-Compliant.

3. Liechtenstein and San Marino became the 62nd and 63rd signatories respectively of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

4. Canada, New Zealand, the Slovak Republic and South Africa deposited instruments of ratification, while the Philippines and the Seychelles signed letters of intention to sign the Convention.

5. The United Kingdom deposited declarations extending the territorial scope of the Convention to cover the following jurisdictions: Isle of Man (Crown Dependency) and Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Montserrat, and Turks & Caicos (Overseas Territories).

6. A new Automatic Exchange of Information (AEOI) Group, open to all interested countries and jurisdictions, was established. The group will work in close co-operation with the OECD, the World Bank Group and the G20 Development Working Group. The group will report back to the Global Forum plenary on its activities on a regular basis and decisions will continue to be made by the Global Forum. The first meeting of the group is expected to take place early in 2014.

The Global Forum agreed that its next meeting will take place in October 2014.

© 1997—2014 DS Express, Inc

84, Spyrou Kyprianou, 

2nd floor, Limassol 4004

Cyprus

tel +357 25 731-042

info@dsexpress.com

 

11 Solzhenitsyna Street

Moscow 109004 Russia

tel +7 495 956-1727

fax +7 495 234-0735

info@dsexpress.com

15 Kreshchatik Street, office 149

Kyiv 01001 Ukraine

tel +38 044 237-2222

fax +38 044 278-6714

kiev@dsexpress.com

 

52 Angliyskaya Emb., office 28

St.Petersburg 190000 Russia

tel +7 812 570-1564

fax +7 812 325-723

spb@dsexpress.com

More contact details and office maps can be found in the section Contacts

© 2015 DS Express Ltd  All rights reserved