G-8 summit - Agreement on tax information exchange 

June 19: The G-8 leaders issued a communiqué at the conclusion of the summit in Northern Ireland that includes the following summary of the agreement concerning tax and tax transparency.
Tax systems – essential to fairness and prosperity for all. We commit to establish the automatic exchange of information between tax authorities as the new global standard, and will work with the Organisation for Economic Cooperation and Development (OECD) to develop rapidly a multilateral model which will make it easier for governments to find and punish tax evaders.

The G-8 leaders' agreement also:


  • Expresses support for OECD’s work to address tax base erosion and profit shifting
  • Includes an agreement to create a common template for multinationals to report to tax authorities where they make their profits and pay their taxes across the world
  • Supports the ability of developing countries to collect the taxes owed them, by providing access to global tax information
  • Agrees to the publication of national “action plans” to make information on who really owns and profits from companies and trusts available to tax collection and law enforcement agencies, for example through central registries of company beneficial ownership

Read full text of the communiqué [PDF 430 KB].


In response, an EC release (Memo/13/582) expresses support for the G-8 agreement, including support for the G-8 plan to prioritize actions “against aggressive tax planning by companies.”





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