November 26, 2019
Published: The Accountant
The Organisation for Economic Co-operation and Development (OECD) and the United Nations Development Programme’s Tax Inspectors Without Borders initiative (TIWB) has launched a project on automatic exchange of information (AEOI).
The TIWB initiative is to launch a number of pilot programmes in an effort to support developing countries’ efforts to ensure the effective use of AEOI data which will involve the deployment of country-experts to developing countries.
The programmes will adopt the approach of the TIWB, where experts work alongside tax officials in the host administration. The programmes will incorporate support for the use of AEOI Data; data analytics, risk assessments, compliance interventions, awareness campaigns, notifications to taxpayers, audit policy, practice and generating tax assessments.
The TIWB is currently exploring opportunities for expansion in other areas such as tax and crime, with four pilot programmes currently being undertaken in Armenia, Colombia, Uganda and Pakistan.
Abdul Hafeez Shaikh, adviser to the Prime Minister on Finance and Revenue of Pakistan, said: “Pakistan highly values the technical support provided by the Global Forum and TIWB initiative through programmes on exchange of information as well as transfer pricing and tax criminal investigations.
“Pakistan has exchanged information with 56 countries through automatic exchange of information, however challenges in interpreting and matching data received remain in converting this information into increased revenue collection.”