Minister of Finance Andrej Bertoncelj attends the Global Forum on Transparency and Exchange Of Data for Tax Purposes at OECD, 26th November 2019
The Global Forum on Transparency and Exchange of Information for Taxation purposes marked its 10th anniversary this year. At the 2009 session, G20 announced the end of banking secrecy. Since then the international community managed to set new standards of transparency under the framework of the Global Forum in order to combat extraterritorial tax evasion. Within the Global Forum, 158 jurisdictions have successfully implemented the below-mentioned standards.
Almost all members of the Global Forum have abolished bank secrecy rules for tax purposes, 70 jurisdictions have amended their national legislation in that regard. The main pillar of tax transparency and data sharing is the confidential treatment of data, which all jurisdictions must ensure at all times.
The work is not done yet. In the future, members must fully implement the agreed standards and address the tax challenges of an increasingly integrated and digitalized global economy. In this regard, the Global Forum members have extended the Forum’s term of office until December 31st 2022.
Minister Andrej Bertoncelj spoke at the panel titled “Is it the end of tax scandals? What’s next?” He stressed that Slovenia supports all activities of the Global Forum related to the international tax cooperation. Fighting tax avoidance and tax evasion requires international cooperation, with no room for unilateral and short-term action. He stressed that tax scandals would not be over as long as tax systems allowed for aggressive tax planning and until cross-border cooperation between tax authorities was weak. The Minister emphasized that the success of international cooperation depends on the effective implementation of tax rules by national authorities. He also called for a new international standard that would cover assistance in tax collection.
For the meeting, the OECD produced a publication on achievements over the last ten years which can be accessed at the following link:
Participants in the Global Forum have adopted the statement of results of the session, which can be accessed at the following link:
A clip of the entire Global Forum session is available at the following link: