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Seychelles represented at 7th global forum meeting |30 October 2014

A high level delegation led by the Minister for Finance, Trade and Investment Pierre Laporte is currently in Berlin attending the 7th Global Forum Meeting on Transparency and Exchange of Information for Tax Purposes.

The global forum is a grouping of 123 member jurisdictions and the European Union, together with 12 observers, making it the largest tax group in the world. It seeks to promote the rapid implementation of the international tax standards through the peer review of all its members and other jurisdictions relevant to its work.

The year's meeting will cover lessons learnt and future challenges faced by the global forum. One major area of focus will be the proposed new framework for exchange of information (EOI). In this regard, delegates are being asked to consider strengthening the terms of reference for EOI on request and moving towards Automatic Exchange of Information (AEOI).

Minister Laporte will make two interventions at the meeting where he will share Seychelles’ perspective on the first pilot study relating to the newly emerged standard which is AEOI. The study was conducted in June this year in Seychelles with the aim of identifying the challenges surrounding the implementation of this new standard.

Additionally, Minister Laporte will address the African Leaders Roundtable and will share Seychelles' experience with information exchange over the last five years. Seychelles will be given an opportunity to explain its views as an African country regarding EOI and based on our experience, propose ways in which Africa can be part of the process of promoting transparency and exchange of information for tax purposes, while taking into consideration the special challenges that African countries face, including capacity constraints.

On the sidelines of the global forum meeting the Seychelles delegation will also be meeting with global forum representatives to apprise them of measures that the country has implemented based on the recommendations of the 2013 Phase 2 Peer Review report, and to prepare for submission of the Supplementary Report with the aim of improving Seychelles' compliance with OECD standards on transparency and exchange of information for tax purposes.

The delegation will also take part in a side event being organised by the Commonwealth secretariat to discuss the challenges that Commonwealth countries face in regards to the new standards and other developments, such as the Base Erosion and Profit Shifting Project (BEPS).

Besides Minister Laporte, the Seychelles delegation comprises Georgette Pillay and Aurore Arcambal representing the Seychelles Revenue Commission, Richard Ramphal (Financial Services Authority), Audrey Adam (Financial Intelligence Unit), and Angelique Antat (Ministry of Finance, Trade and Investment).





 

 

 

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