The International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the UN and the World Bank Group has announced joint effort to intensify cooperation on tax issues globally.
This is contained in a statement issued by the IMF in New York on Tuesday in New York.
It said that the cooperation, tagged: “The Platform for collaboration on tax’’, will formalise regular discussions between the four international organisations on the design and implementation of standards for international tax matters.
That it will also strengthen their capacity building support, deliver jointly developed guidance, and ensure information sharing on operational and knowledge activities.
“This effort comes at a time of great momentum around international tax issues, and was welcomed by the G20 finance ministers at their February meeting in Shanghai, China.
“With the growing importance of taxation in the debate, this will help to achieve the UN Sustainable Development Goals (SDGs).
“A major aim of the Platform is to better frame technical advice to developing countries as they seek both more capacity support and greater influence in designing international rules,” it said.
The statement said that one of the Platform’s first tasks will be to deliver a number of tool-kits designed to help developing countries implement the measures developed under the G20/OECD Base Erosion and Profit Shifting Project (BEPS) and on other international tax issues.
The statement said that the first of these tool-kits, focusing on tax incentives, was delivered in November 2015.
It also said that the Platform members will hold regular meetings with representatives of developing countries; regional tax organisations as well as banks and donors.
It noted that consultations with business and civil society organisations would be organised as needed. (PANA/NAN)