Tax Transparency, Info Exchange Have Gotten Better, OECD Says

The international community has made “significant progress” on tax transparency and sharing of information since the inception of the Group of 20, but further efforts are needed, the OECD said Thursday.

Today, 172 jurisdictions are working together on the effective implementation of common reporting standards in the area, the OECD and its Global Forum on Transparency and Exchange of Information for Tax Purposes said in a report to G20 finance ministers, who are meeting this week in South Africa.

In addition, 89% of nations reviewed have been deemed compliant or largely compliant with standards for the exchange of information on ...