G20 wants automatic exchange of tax information to be the new norm
24 April 2013
Kalliope Gourntis in New York
Taxpayers will have to get used to automatic exchange of information as standard, if the G20 get their way.
Pascal Saint-Amans, the head of tax at the OECD, believes
the world is coming together over the issue of the automatic
exchange of tax information.
"The US is already there with FATCA," said
Saint-Amans, the director of the OECD's Centre for Tax
Policy and Administration (CTPA) when he briefed journalists
during the meeting of G20 finance ministers and central bank
governors in Washington, DC last week. "We're back to the level
of pressure we had in 2009 when G20 countries said 'Enough with
bank secrecy'. They now want to take this a step further with
the automatic exchange of information."
Angel Gurría, the OECD secretary-general, presented
the Organisation's progress report on automatic exchange of
information to the meeting on Friday. The response of the
ministers and governors to the report suggests Saint-Amans is
"We welcome progress made towards automatic exchange of
information which is expected to...
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