Ukraine is the 121 to accede OECD
Ukraine has become a full member of the Global Forum on Transparency and Exchange of Information for Tax Purposes, as stated in the letter from the chairman of the Global Forum, Kosie Louw, the press service of the Ministry of Revenues reports.
Ukraine became the 121st member of the Global Forum - the world's largest organization for the exchange of tax information between the competent services of its member states. The purpose of the Global Forum is introducing the standards of the transparent international tax environment. In particular, one of the most important issues is developing recommendations for the prevention of fraud by using offshore jurisdictions.
The country that joins this organization undertakes to implement appropriate standards of transparency, automatic information exchange with other Global Forum participants, and agrees to the expertise of domestic tax environment by OECD experts. Currently, according to the report presented in July 2013, Forum’s experts have already examined 98 countries. In November, 50 states will be assigned their respective rankings for compliance with standards of transparency and exchange of information.
Ukraine’s expert inspection is pre-set for late 2014.
