Wednesday 27 November 2019
Guernsey has attended the tenth anniversary meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) in Paris this week.
Deputy Jonathan Le Tocq, Member of the Policy & Resources Committee with responsibility for external affairs, attended the meeting on 26th November alongside Ministers from over 40 other jurisdictions.
The Global Forum was established in 2009 to ensure global tax transparency and eliminate barriers to effective information exchange, and was created in the context of the work by the Organisation for Economic Co-operation and Development (OECD) to address the risks to tax compliance posed by non-cooperative jurisdictions. The Global Forum also has a significant programme of technical assistance to ensure developing countries benefit from the international tax transparency standards.
The Global Forum now has 158 members and is the principal body for ensuring the implementation of the internationally agreed standards of transparency and exchange of information in the tax area. Guernsey has been a member of the Global Forum since its creation and has been actively engaged in the work to develop these international standards.
Zayda Manatta, head of the Global Forum Secretariat, said:
"There is still a lot of work ahead of us. Members must continue efforts to ensure full implementation of existing standards and address the tax transparency challenges of an increasingly integrated and digitalised global economy."
Deputy Le Tocq said:
"I was pleased to be able to represent Guernsey at this event, alongside Ministers from a number of other countries from around the world, to highlight the work that Guernsey has done and continues to do in the field of tax. Guernsey is proud to participate in meetings of the Global Forum to develop international standards on tax transparency, and membership of this group has helped to ensure we play our part in the creation of an international level playing field."