OECD Secretary-General Angel Gurría yesterday [Thur 5.9.2013] presented to G20 Leaders ground-breaking proposals to tackle tax evasion and avoidance by both companies and individuals. The report is available on the OECD website.
The 80-page report consists of 2 parts. Part I is the Progress Report to the G20 by the Global Forum on Transparency and Exchange of Information for Tax Purposes delivered to the G20 in April 2013. Part II is a report by the OECD Secretary-General regarding the work on base erosion and profit shifting (BEPS) and tackling offshore tax evasion. The OECD Secretary-General report details the BEPS action plan, as well as a proposal to move globally towards automatic exchange of information.
The proposals establish automatic exchange of information for tax purposes as the new international standard for tax co-operation and set out the Action Plan on Base Erosion and Profit Shifting (BEPS), which was first presented to G20 Finance Ministers in Moscow in July 2013.
[LTN 173, 6/9/13]