The OECD Forum on Tax Administration (FTA) had a meeting in Paris last Friday - the meeting had previously been scheduled for Mexico City. This meeting which was attended by tax commissioners from around the world focused on working together to address tax arrangements entered into by banks and very wealthy people and offshore tax compliance problems.
The FTA released a Communiqué on the results of the discussion.
Those participating agreed to continue to:
- Work together to improve tax administration, taxpayer services and tax compliance - both nationally and internationally.
- Promote strong corporate governance in the area of tax.
- Support tax administrations in developing economies.
The Paris Communique is available here
Their discussions were based on two studies which were released on Friday:
- "Building Transparent Tax Compliance by Banks" examines the role of banks in relation to designing or implementing aggressive tax planning for themselves or their clients and the complex financing transactions that are used for tax purposes.
- "Engaging with High Net Wealth Individuals on Tax Compliance" examines the challenges that high net wealth individuals pose to tax administrations and the integrity of tax systems due to the complexity of their tax affairs and the opportunities that they have to participate in aggressive tax planning.
Further information on the meeting is available here