Bhatia has just returned from a Forum meeting in Jakarta, where a number of developments, including further country rankings, were agreed by the 122 country members.
“The next step will see jurisdictions looking to address the recommendations that have been made to them,” says Bhatia. “Those without good ratings will want to make changes.”
Bhatia says the result of these ratings and recommendations is “more effective cooperation” between jurisdictions.
She adds that the impact on taxpayers is that, with more exchange of information between the 122 members, it is becoming even more difficult to have arrangements purely designed to limit tax. “There’s no let up.”
The next step in the Forum’s development involves the automatic exchange of information. Bhatia says all members agreed to this in Jakarta and 30 members have come together to form a voluntary group working towards this end.
|The Global Tax 50 2013|
Max Baucus and Dave Camp
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