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Global Forum Secretariat participates in Bali workshop on effective implementation of automatic exchange

13/06/2022 - The Global Forum Secretariat participated in the “Workshop on effective implementation of Automatic Exchange of Information (AEOI)” held in Bali, Indonesia, from 7 to 10 June. Jointly organised by the Agence Française de Développement (AFD), Expertise France and the Indonesian Directorate General of Taxes (Direktorat Jenderal Pajak, DJP), the workshop was attended by 35 Indonesian tax officials.

Workshop on effective implementation of automatic exchange of information

Experts from the Global Forum Secretariat and the French tax administration (Direction Générale des Finances Publiques, DGFiP) explained various aspects of the AEOI standard as a powerful tool to help deter and identify offshore tax evasion:
 

  • The treatment and use of AEOI data, as strategies for effective use of data require the continuous development of new tools, skills and methodologies, moving from traditional data analysis to advanced analytics.

  • The administrative compliance framework, as jurisdictions should ensure that Reporting Financial Institutions correctly implement the due diligence and reporting procedures in practice.

AEOI provides for the automatic exchange of a predefined set of information between tax authorities. The AEOI standard requires the annual exchange of information on financial accounts held by non-resident individuals and entities in a pre-defined format. After commencing automatic exchanges in 2018, Indonesia is seeking to enhance its effective implementation.

The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.

For more information please contact gftaxcooperation@oecd.org.

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Source: http://www.oecd.org/tax/exchange-of-tax-information/global-forum-secretariat-participates-in-bali-workshop-on-effective-implementation-of-automatic-exchange.htm