OECD tax collectors pledge to fight revenue losses

Rich country tax authority heads have banded together to fight international tax avoidance. Representatives from more than 30 countries, at a Seoul meeting of the Organisation for Economic Cooperation and Development’s forum on tax administration, agreed to conduct a joint study by 2007 into how accountants, lawyers and tax advisors were promoting illegal tax evasion and “unacceptable tax minimisation arrangements”. They also agreed to complete “a directory of aggressive tax planning schemes so as to identify trends and measures to counter such schemes”. Additionally, they promised cooperation on training tax officials, while expanding OECD corporate governance guidelines.