In a joint statement, the finance ministers of France, Germany, Italy, Spain and the UK (G5) welcomed the announcement by Colombia, Greece, Iceland, Liechtenstein, Luxembourg and Malta to join the pilot initiative launched by the G5 on automatic exchange of tax information.
The new global standard, to be finalised early next year, would mark a step change in their ability to clamp down on tax evasion. In making this commitment and joining the large number of jurisdictions that have committed to date, Colombia, Greece, Iceland, Liechtenstein, Luxembourg and Malta had recognised that those jurisdictions which will prosper in the future would be those which embrace tax transparency and work cooperatively to tackle tax evasion, they wrote.
"In accordance with their announcement, we look forward to working with Colombia, Greece, Iceland, Liechtenstein, Luxembourg and Malta, notably to seize forthcoming opportunities and actively foster automatic exchange of tax information in all organisations and bodies. We reiterate our invitation to all countries to likewise commit to early adoption of the new global standard."
Full press release
Original joint letter to the European Commission by the finance ministers of the G5 (10 April 2013)
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