Progress already made
> The total number of signatories is growing rapidly and currently stands at 35. India has moved particularly quickly to both sign and ratify, with the result that the convention entered into force with respect to India on 1st June 2012. With your support many jurisdictions and developing countries could sign the Convention before your next meeting.Online GST Certification Course by TaxGuru & MSME- Click here to Join
> Automatic exchange of information proves to be a useful way to implement enhanced international tax co-operation as shown in the attached report. The OECD stands ready to develop a multilateral platform to facilitate that practice for the countries interested in joining the Convention.
> At the second global event on Tax and Crime, held in Rome last week (“the Oslo
Dialogue”), the OECD presented ways to enhance interagency co-operation including the launch of a pilot training programme for criminal tax investigators in developing countries.
> The misuse of corporate vehicles is one aspect of tax base erosion and profit shifting which harm the revenues of States, and in particular developing countries. The OECD is developing appropriate responses to this trend and its Forum on Tax Administration is developing a practical guide to detecting vehicles and establishing ownership and control.
In order to help developing countries address these challenges, the OECD has launched “Tax Inspectors without Borders”, which will be up and running by the end of 2013.