Singapore to host forum on tax information exchange

17:16, January 25, 2010      

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Singapore will host the Global Forum on Transparency and Exchange of Information for Tax Purposes from Sept. 30 to Oct.1 this year, the country's Ministry of Finance said on Monday.

The Global Forum, comprising over 90 jurisdictions, is responsible for assessing and monitoring through peer reviews the effective implementation of the internationally agreed Standard for exchange of information for tax purposes across jurisdictions.

This is the first meeting of the Global Forum after it was constituted as a self-standing body in September 2009 in Mexico.

The 2010 meeting of the Global Forum will review the preliminary outcomes of the peer review process and the progress made over the past one year.

Tharman Shanmugaratnam, Minister for Finance of Singapore said, "Singapore is pleased to host the Global Forum at an important time as it puts in place an objective peer review process aimed at monitoring the implementation of the internationally agreed standard for exchange of information."

Source: Xinhua
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