OECD: BEPS, exchange of financial information to be addressed

BEPS, exchange of financial information to be addressed

Heads of tax administrations from 46 countries will meet, beginning tomorrow, as part of the Organisation for Economic Cooperation and Development (OECD) Forum on Tax Administration.

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According to an OECD release, items at the top of the agenda for the 23-24 October 2014 meeting of the OECD Forum on Tax Administration are: (1) improving transparency to counter offshore tax evasion; and (2) addressing tax avoidance by multinational enterprises. This will continue global initiatives—the base erosion and profit shifting (BEPS) project and a move toward automatic exchange of financial account information at a global level.

The discussions are expected to cover how tax administrations can best improve taxpayer services and tax compliance, while boosting efficiency, effectiveness and the fairness of tax systems.

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