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Gibraltar sends tax transparency message at OECD meeting in Paris

The Gibraltar delegation at OECD headquarters.
The Gibraltar delegation at OECD headquarters. / SUR
  • The Gibraltar government has been working with the OECD for over a decade and is a signatory to the Multilateral Convention

The chief minister Fabian Picardo, financial secretary Albert Mena, commissioner for income tax, John Lester and finance centre director Jimmy Tipping attended the 10th anniversary meeting of the Global Forum of the Organisation for Economic Cooperation and Development (OECD) last week, and the chief minister used the opportunity to send a strong message to those who sometimes make the "nonsensical" suggestion that Gibraltar is "somehow not at the forefront of international cooperation".

Gibraltar sees its presence at the OECD anniversary meeting as a demonstration to the world of its commitment to tax transparency and compliance with international rules in respect of the exchange of tax information on a level playing field basis.

Gibraltar, which is on the OECD White List, has been working with the organisation for more than a decade and is a signatory to the Multilateral Convention on Mutual Administrative Assistance.

This, Picardo said, had put them in a good place to show the world that Gibraltar is a compliant jurisdiction which maintains the highest standards of regulation and exchange of information.

" The only business model that will work in future is one based on compliance and transparency. As the world changes and becomes more and more digital and globalised, and data is more easily searched and mined,there will be no real or legitimate business to be done in pretending to assist people to hide money from other tax authorities," he stressed.