Tax Commissioners from the Asia Pacific will establish a regional taskforce to share compliance tactics, increase tax transparency and help countries to tackle base erosion and profit shifting.
This is the outcome of the 44th meeting of the Study Group on Asian Tax Administration and Research (SGATAR) held in Sydney from 24 to 27 November 2014, which was hosted by ATO Commissioner Chris Jordan. A communiqué from the meeting announced the move.
The Taskforce will give administrations in the Asia-Pacific a platform to play a significant role and contribute to international forums, such as the OECD. It will also enable greater collaboration between SGATAR members. They can use the Taskforce to coordinate information sharing, cross-jurisdictional compliance action and get support to implement important initiatives such as automatic exchange of information.
[LTN 231, 28/11/14]