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The Organization for Economic Cooperation and Development has launched a new initiative, Tax Inspectors Without Borders, to support developing nations to close tax loopholes and improve the effectiveness of their tax regimes.
An independent foundation will be set up by late 2013, to provide international auditing expertise and advice to help developing countries address tax base erosion, tax evasion and avoidance, the OECD said.
Stakeholders from business, the OECD and developing country governments, who attended the latest meeting of the Tax and Development Task Force, welcomed the initiative, which aims to address a gap in the existing provision of audit assistance.
Representatives from developing nations agreed to work together to launch a sustainably-financed independent organization to host a Tax Inspectors Without Borders secretariat by the end of 2013.
“Countries helping each other is the only way to effectively fight global tax evasion and avoidance”, said OECD secretary-general, Angel Gurria.
“The idea is quite simple: Tax Inspectors Without Borders will match demand from developing countries wanting outside help with complex international tax audits with the supply of international experts, drawn mainly from cadres of tax inspectors serving in other tax administrations. Joint teams will operate under the local leadership in each country, based on a “learning by doing” approach”.
Source: Accountancy Live
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