Cameroon hosts the Global Forum Plenary
The Global Forum (GF) on Transparency and Exchange of Information held its plenary session in Yaoundé, Cameroon from 15th to 17th November, 2017. While significant progress has been made in terms of the jurisdictions which have committed to the GF Transparency Standards, the focus is now on the implementation of Automatic Exchange of Information (AEOI) between jurisdictions. There is definitely increased pressure on those jurisdictions which have committed to commence AEOI in 2018.
A number of CATA member countries, especially those in the Caribbean have already committed to this process and are expected to ensure that the proper legislative, regulatory and administrative framework are in place to facilitate AEOI. One of the key areas would be security of data and information. The emergence of the ‘Paradise Papers’ has again underscored the need for a concerted international response to ensure that no jurisdiction provides a safe haven for tax dodgers and aggressive tax planners.
Click here to view the Statement of Outcomes from the 2017 Global Forum Plenary Meeting.