During its restructure, the OECD put in place a number of measures giving the Forum more “teeth” when dealing with tax transparency between nations. One of these measures was to put in place a “more robust monitoring process” to ensure members implement tax sharing systems designed to cut through banking secrecy laws.
At the time the measures were seen as critical in encouraging states that have historically used their secrecy laws – Switzerland being a prime example – as a block against disclosing information, to cease doing so.
As well as discussing the progress it has made over the past year, the Forum, which now has 94 members and meets on 29 and 30 September, will discuss the first peer reports from countries including Bermuda, Botswana, the Cayman Islands, India, Jamaica, Monaco, Panama and Qatar. It said it would also discuss expanding its membership and will discuss a report to be given to the G20 on the progress made towards tax transparency.
