OECD to implement ‘peer review’ on tax

(Dow Jones): Officials at the Organization for Economic Cooperation and Development’s global forum on tax information exchange said the two-day meeting that concluded Wednesday made significant progress toward reducing future tax evasion and that a “peer review” process has been agreed. "The campaign for global tax transparency is in full flow," said OECD Secretary General Angel Gurria at a press conference. Representatives of almost 90 jurisdictions – including major powers such as the U.S. and China but also small island tax havens such as the Cayman Islands – attended the forum.

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