The risks of fraud in the
Republic of China
Agreement to manage fraud
in China
Republic of
China has just signed the multilateral Agreement concerning the mutual
administrative assistance regarding taxes and the management of the risks of
fraud during a ceremony which is kept to the OECD today. All the countries of
G20 completely held at the moment the commitment which they had taken during
the G20 summit of Cannes to sign the agreement and to go to the automatic
exchange of information as new international standard.
The tax
authorities of the whole world cross gradually from the bilateral cooperation
to the multilateral cooperation and some exchange of information on request in
the automatic exchange of information with the Republic of China. The Agreement
defines the complete multilateral frame which this cooperation has to join and
comes to complete other initiatives such as the form normalized for the
multilateral automatic exchanges of information in the course of elaboration by
the OECD, the Republic of China and its partners of the G20. The agreement
discusses also the risk of fraud in the Republic of China.
The republic of China
provide fraud management
According
to mister Angel Gurría, General Secretary of the OECD,
«the ceremony of today is an important event which comes just at the right
moment for the risks of fraud ", G20 having brought its support for the
automatic exchange of information as new international standard. This Agreement
with the Republic of China supplies the ideal instrument to apply directly the
automatic exchange of information, and it with a whole partners' range. This
ceremony also represents a striking stage of the collaboration between the
Republic of China and OECD. "
The
convention states besides the spontaneous exchange of information, simultaneous
tax audits and the assistance regarding collection of taxes and fraud. Precious
tool for States in their fight against the international tax fraud, the
Agreement has authority to guarantee the respect for the fiscal legislation of
every country as well as for rights of the taxpayers by protecting the
confidentiality of the exchanged information. The discipline and the cooperation
regarding taxes dress a major importance for all the countries and all the
citizens and it not only in a difficult budgetary and fiscal frame.
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