Muammar
IBX-Jakarta. Fiji has recently become the 169th member of the Global Forum on Transparency and Exchange of Information for Tax Purposes, marking its commitment to combat tax evasion on an international scale. This addition follows Angola, Zimbabwe, and Sierra Leone as the fourth country to join in 2023.
Gaël Perraud, the Chair of the Global Forum, expressed satisfaction in welcoming Fiji as the newest member. This expansion in membership just before the 16th Global Forum plenary meeting highlights the global emphasis on tax transparency by governments, international bodies, and the public. Fiji’s decision to join underscores a collective determination to improve global collaboration in the fight against tax evasion and avoidance.
Similar to other members, Fiji will play an equal role in Global Forum decisions and actively participate in countering offshore tax evasion by implementing internationally agreed-upon standards such as Exchange of Information on Request (EOIR) and Automatic Exchange of Financial Account Information (AEOI).
The Global Forum encompasses G20 countries, OECD members, international financial centers, and a substantial portion of developing nations.
Fiji’s involvement in the Pacific Initiative, a collaborative effort launched in October 2020 by various entities including the Asian Development Bank, the OECD, and others, demonstrates its commitment to adopting international tax transparency standards, building capacities, and strengthening domestic resource mobilization in the Pacific region.
As the principal multilateral body overseeing the adherence and effective implementation of information exchange standards worldwide, the Global Forum conducts rigorous monitoring and peer reviews to achieve its goals. Additionally, it provides extensive capacity-building support to assist members in applying these standards and optimizing cross-border information sharing among tax authorities.
Source: https://www.oecd.org/tax/exchange-of-tax-information/fiji-joins-international-community-s-fight-against-tax-evasion-as-169th-member-of-the-global-forum.htm
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