Gibraltar Income Tax Office Attends OECD’s 11th Global Forum Competent Authorities Meeting To Strengthen Global Tax Cooperation
Gibraltar recently participated in the OECD’s 11th Global Forum Competent Authorities Meeting.
A statement from the Government follows below:
This is another example of how Gibraltar prioritises the critical role of these gatherings and their importance in fostering transparency, exchange of tax information and in shaping tax policy.
The OECD's Global Forum Competent Authorities Meeting, held on 6 and 7 May 2024, brought together tax officials from around the world to discuss and enhance the implementation of international tax standards. The event focused on the exchange of tax information and its pivotal role in combating tax evasion and ensuring fair tax practices globally. As a leading and robust international financial centre, Gibraltar is committed to upholding the highest standards of transparency and cooperation in tax matters.
Gibraltar's delegation engaged in productive discussions on key issues such as automatic exchange of information and the implementation of the Common Reporting Standard (CRS). They underscored the importance of effective and efficient information exchange mechanisms in today's globalised economy. In addition to discussions on tax information exchange, the meeting highlighted the importance of tax policies in achieving sustainable and inclusive growth and for promoting investment and innovation, whilst ensuring that all taxpayers, including multinational corporations, pay their fair share of taxes. This aspect of the Global Forum's work aligns with HM Government of Gibraltar's mission in promoting a tax system that achieves economic success through fair tax contributions.
The global economy continues to evolve and events like the OECD's Global Forum Competent Authorities Meeting plays a crucial role in shaping the international tax landscape. By participating in these meetings, Gibraltar looks forward to continuing our contribution to the development of global tax standards that promote economic growth and combat tax evasion.
Commenting on the significance of the event, Minister for Justice, Trade and Industry, Nigel Feetham KC MP, stated: “Gibraltar is committed to supporting international efforts aimed at enhancing tax transparency and cooperation. The Global Forum Competent Authorities Meeting provides a crucial platform for countries to exchange best practices, address challenges, and work towards a more transparent and fair global tax environment. Tax is an essential component of our community; it provides the funding for essential social services, healthcare, education, and sustenance for the public sector. We need to act now to preserve Gibraltar’s continued fiscal prosperity and macroeconomic interests through fair tax contributions from all taxpayers.”
