Eliminating Tax Evasion Is Core Piece of G8 Ten-Point Plan
- Tax authorities across the world should automatically share information to fight the scourge of tax evasion.
- Countries should change rules that let companies shift their profits across borders to avoid taxes, and multinationals should report to tax authorities what tax they pay where.
- Companies should know who really owns them, and tax collectors and law enforcers should be able to obtain this information easily.
- Developing countries should have the information and capacity to collect the taxes owed them – and other countries have a duty to help them.
- Extractive companies should report payments to all governments – and governments should publish income from such companies.
- Minerals should be sourced legitimately, not plundered from conflict zones.
- Land transactions should be transparent, respecting the property rights of local communities.
- Governments should roll back protectionism and agree [to] new trade deals that boost jobs and growth worldwide.
- Governments should cut wasteful bureaucracy at borders and make it easier and quicker to move goods between developing countries.
- Governments should publish information on laws, budgets, spending, national statistics, elections, and government contracts in a way that is easy to read and re-use so that citizens can hold them to account.
OECD Report to G8 Leaders
- Enacting broad framework legislation to facilitate the expansion of a country's network of partner jurisdictions.
- Selecting the legal basis for the exchange of information.
- Adapting the scope of reporting and due diligence requirements and coordinating guidance.
- Developing common or compatible IT standards.
The report also provides potential time frames for each step and notes that much of this work is already underway at the OECD. It also stresses that more jurisdictions are joining the Convention on Mutual Administrative Assistance in Tax Matters , which provides a legal basis for automatic exchange of information and underlines the role of the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes . The forum has been mandated by the G20 to monitor implementation of the new standard.