14 Corp. Bus. Tax'n Monthly 25 (2012-2013)
OECD's Strategic Initiatives for Tax Information Exchange

handle is hein.journals/corbus14 and id is 569 raw text is: September 2013

OECD's Strategic Initiatives for
Tax Information Exchange
By Robert Feinschreiber and Margaret Kent
Robert Feinschreiber and Margaret Kent explain high-profile
strategic tax information exchange initiatives that are being
actively pursued by the OECD to address issues such as base
erosion and profit sharing.

he OECD is actively pursuing high-profile
strategic tax information exchange initiatives
through the Global Forum initiative. Angel
Guria, the OECD's Secretary-General, presented
a report to the G20 Finance Ministers and Central
Bank Governors that encompasses three such
information facets:
  The Global Forum on Transparency and Exchange
of Information for Tax Purposes (the Global
Forum) is moving ahead with its initiatives.
The report discusses these initiatives, which
include peer review ratings of the jurisdictions'
compliance with the Global Forum's standards
on exchange of information.
*  The OECD is seeking to strengthen the automatic
exchange of information process. The report
discusses the efforts that the OECD has taken to
implement this process.
*  The OECD continues its emphasis on tax
base erosion and profit shifting. The OECD is
Robert Feinschreiber is a Senior Partner at Quantera Global
in Key Biscayne, Florida (transferpricingconsortium.com).
Margaret Kent is a Senior Partner at Quantera Global in Key
Biscayne, Florida (transferpricingconsortium.com).

concerned that multinational corporations have
an unfair tax advantage over domestic companies
and citizens.
Global Forum on Transparency
and Exchange of Information
for Tax Purposes
The OECD set up the Global Forum in 2000 for the
purpose of agreeing to global tax standards. While
the OECD has 34 members, the Global Forum has
119 member countries and jurisdictions. In 2009,
when addressing the Global Forum, the G20 called
for countries to develop an effective implementation
of the internationally agreed standard of information
exchange. The Global Forum uses a peer review
report as a means of monitoring compliance with this
international standard. As of now, the Global Forum
has completed 100 peer review reports.
These peer review reports show suggestions
for improving information exchange practices.
Overall, the reports reflect 600 recommendations
for improvement, 300 of which the countries have
already. The Global Forum's goals here are to further

©2013 R. Feinschreiber and M. Kent
CORPORATE BUSINESS TAXATION MONTHLY

25

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