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Overseas Territories Support G8 Initiative On Tax, Trade And Transparency

As part of our continuing commitment to tackling tax evasion and fraud, we have also undertaken to prepare Action Plans setting out the concrete steps, where needed, to fully implement the Financial Action Task Force standards to further increase our already high standards of transparency on beneficial ownership information and to ensure that this information is available to law enforcement and tax authorities in accordance with our established mutual legal assistance cooperation regimes.

The Multilateral Convention on Mutual Administrative Assistance in Tax Matters is an important global instrument, which builds upon our existing network of many bilateral agreements and other existing arrangements for exchanging information between tax authorities. The Convention offers an accessible route to increase the number of jurisdictions which will be able to benefit from information exchange. It is for this reason that we have committed to joining the Convention and have requested its extension to our jurisdictions as soon as possible, subject to our national procedures and the need for ensuring the achievement of a global level playing field.

We are committed to continuing to play a leading role in delivering a fair, responsible and effectively regulated global business environment.

We express the hope that the UK Prime Minister will succeed at Lough Erne in securing a new global standard and all Leaders will commit to move together on this common agenda designed to secure more economic growth.

Source: Political Leaders of the Overseas Territories of Anguilla, Bermuda, British Virgin Islands, Gibraltar, Montserrat and Turks and Caicos Islands

 

SOURCE Political Leaders of the Overseas Territories

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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