Pakistan joins campaign for effective exchange of information
The multilateral group that fights tax evasion has a new member.
Pakistan has become the 111th jurisdiction to join the Global Forum on Transparency and Exchange of Information for Tax Purposes, the OECD-run group that aims, through a peer review process, to ensure that all jurisdictions adhere to the same high standard of international cooperation in tax matters and governments come together to fight and prevent tax evasion.
“Pakistan will now be among the jurisdictions that are directly involved in the international effort to make tax systems worldwide transparent and fair to all,” said OECD Secretary-General Angel Gurría.
Since 2010, the Global Forum has, published 79 peer review reports containing 495 recommendations to help jurisdictions improve their cooperation in tax matters. As a result, more than half of the countries reviewed have already introduced or proposed changes to their laws. The Global Forum recently launched Phase 2 of its review process, which will examine countries’ effectiveness of exchange of information practices.
The next meeting of the Global Forum will be held in about four weeks’ time, on October 26 - 27 in Cape Town, South Africa.