On March 18, 2017 the OECD published a OECD Secretary-General Report to G20 Finance Ministers. The report consists out of 2 parts. Part I is an update report by the OECD Secretary General regarding the latest developments in the international tax agenda, including (Annex 1) the joint OECD/IMF Report on Tax Certainty. Part II is a Progress Report to the G20 by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Part I of the report discusses a.o. the following topics:
· Tax Certainty;
· BEPS Implementation;
· Tax Transparency; and
· Tax and Development.
Part II of the report discusses a.o. the following topics:
· Automatic Exchange of Information;
o The status of AEOI commitments;
o Urgent next steps needed to secure timely implementation;
· Exchange of Information on Request;
o Final results from the first round of reviews;
o Status update on the second round of reviews;
o The fast-track reviews;
· Ongoing work on Beneficial Ownership;
o Improving effective implementation through peer reviews;
o Ensuring closer institutional cooperation between the FATF and the Global Forum;
o Facilitating effective implementation through examples of effective implementation and technical assistance;
· Technical Assistance;
o Offering an Induction Programme for new members;
o Supporting the effective implementation of the AEOI and EOIR Standards; and
o Providing other targeted assistance to developing countries.
Furthermore the following 2 Appendices are included in the second part of the report:
· Appendix 1 – Jurisdictions participating in the Convention on Mutual Administrative Assistance in Tax Matters
· Appendix 2 – Overall ratings following the First Round of Reviews
Click here to be forwarded to the OECD Secretary-General Report to G20 Finance Ministers from March 2017 as available on the website of the OECD, which will open in a new window.
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