Paris, November 26, 2019
His Excellency the Governor of the General Authority of Zakat and Tax (GAZT), Suhail bin Mohammed Abanami, headed the Kingdom's delegation to the 10th anniversary of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Paris with the participation of more than 158 member countries including HH Bruno Le Maire, Minister of the Economy and Finance, Ángel Gurría, the Secretary-General of the Organization for Economic Co-operation and Development (OECD), and other ministers and officials.
His Excellency the French Minister of Economy and Finance stressed on reaching a solution based on global consensus regarding digital economy taxation next year- one of the main topics that were discussed recently at the Zakat and Tax Conference in Riyadh, in line with the Kingdom's presidency of the G20.
HE the Governor said: "The Forum has achieved over the past ten years a remarkable success that led to tax transparency in the member countries and has had the effect of amending some of the local regulations for the exchange of information in the countries."
The Secretary-General of the Organization for Economic Co-operation and Development (OECD) outlined some of the key statistics and achievements that led to tens of billions of additional revenues to Member States during the last decade and since the establishment of the Global Transparency Forum.
It is worth mentioning that the Forum recently gave the Kingdom a highly committed assessment on the availability of local information exchange systems and the ability of exchanging them with partner countries in accordance with tax agreements.
The Global Transparency Forum holds annual meetings at which important decisions and key problems facing tax authorities in information exchange are discussed. Member States are represented at the meeting by heads of tax authorities.