Chinese Premier Li Keqiang Image:FoxBusiness
With only days to spare before the G20 Heads of Government Summit in St. Petersburg next week, on Tuesday the Organisation for Economic Cooperation and Development (OECD) announced that China had signed the OECD Multilateral Convention on Mutual Assistance in Tax Matters.
According to Secretary General of the OECD, Angel Gurria, the signing by China, the last of the G20 members to do so was “both timely and important as the G20 has endorsed automatic exchange of information as the new global standard.”
This eleventh-hour endorsement by China confirms the widely held view that international tax cooperation and transparency will have ‘pride of place’ at the G20 Summit.
More blog posts on the recently announced changes to the international transparency and exchange of information agenda: