OECD’s Tax Forum Continues To Expand
Monday April 18 2011 | 05:04 AM

The Global Forum on Transparency and Exchange of Information for Tax Purposes has, following a series of recent additions, reached a membership of 101, and expects to expand still further in the future.

The membership has been bolstered by the inclusion of Ghana, Georgia and Nigeria in recent weeks, with these countries' decision to join regarded by the Forum as indicative of their acknowledgement that international tax co-operation is a means to securing their tax bases. The Forum was established under the umbrella of the Organization for Economic Co-operation and Development (OECD), in response to G20 leaders having urged the adoption of international standards of transparency and information exchange in tax matters. Through its peer review mechanism, it seeks to ensure the full tax cooperation and adoption of international standards, including exchange of bank information, of its members.

OECD Secretary-General Angel Gurria welcomes the Forum's continued expansion, which he sees as one of the most inclusive tax fora in the world. He said that: "As we approach the G20 and other high level meetings on development it is particularly appropriate that an increasing number of developing countries are looking to the Forum to help them improve transparency in their tax systems".

The Plenary of the Forum will meet in Bermuda at the end of May, and the Forum is scheduled to complete its 19th peer review report in time for the upcoming November G20 Summit in Cannes, France, in November.

Forum Chair Mike Rawston noted that: "The Global Forum has already delivered key progress with all its members committing to the international standards on tax transparency, including putting an end to bank secrecy for tax purposes. It is now time for the Global Forum to work with developing countries so that they too can benefit from the changed international environment".