In 2009, G20 Leaders declared “the era of banking secrecy is over.” Ten years later, the Global Forum on Transparency and Exchange of Information for Tax Purposes will meet to celebrate the unprecedented global success in the implementation of tax transparency and exchange of information standards.
A series of high-profile data leaks and media investigations over the past decade have raised awareness and given rise to increasing public anger over wealthy individuals’ use of shell entities and anonymous accounts to evade taxes.
The Global Forum is the world’s largest network for international cooperation in the field of taxation and financial information exchange, bringing together 158 countries and jurisdictions plus the European Union in the fight against tax evasion.
It has been instrumental in efforts to reduce and eliminate safe harbours for tax evaders and making good on G20 Leaders’ pledge to end bank secrecy.
The Global Forum’s 10th anniversary plenary provides a unique opportunity to highlight the successes realized over the past decade thanks to greater cross-border tax cooperation.
Participants, including 60+ ministerial-level delegates, will exchange views on the radical evolution of international cooperation as well as the utility and global impact of tax transparency.
Discussion will also focus on the role of tax transparency in tackling illicit financial flows and the experience gained from the implementation of the automatic exchange of financial account information.
Delegates will reflect on the future of tax transparency in the digitalised economy and approve a new agenda for future work to accelerate international cooperation against tax evasion.