By Organisation for Economic Co-operation and Development
Azerbaijan and the Kingdom of Lesotho have joined the Global Forum on
Transparency and Exchange of Information for Tax Purposes. As the 119th
and 120th members of the Global Forum, they will participate in the
peer review process which encourages all countries to adopt effective
exchange of information in tax matters.
"We are delighted
to welcome Azerbaijan and the Kingdom of Lesotho as new Global Forum
members”, said OECD Secretary-General Angel Gurría "They will now be
sitting at the table with countries from every continent - all
jurisdictions determined to make tax systems transparent and fair to
all. The growing membership of the Global Forum indicates that all
regions of the world value its efforts to strengthen global tax
The Global Forum’s aim is to ensure that all jurisdictions adhere
to the same high standard of international co-operation in tax matters
and governments come together to fight and prevent tax evasion.
Consistently supported by G-20 leaders, since 2010 the Global Forum
has published 88 peer review reports containing 616 recommendations to
help jurisdictions improve their co-operation in tax matters. As a
result, more than half of the countries reviewed have already introduced
or proposed changes to their laws.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.