Today over 50 countries around the world have committed to stamp out tax evasion by signing a new global agreement in Berlin to automatically exchange tax information.  This will mean tax authorities will automatically have access to information on their residents who hold accounts offshore; a step which will provide a significant deterrent effect to prospective tax evaders.

Dr David McNair Policy Director for Transparency at The ONE Campaign said: “Today’s announcement is an important and welcome milestone in the fight against illegal tax evasion, but will only count for developing countries if they are swiftly included in these arrangements so they too can claw back revenues for investment in vital health systems and the fight against preventable diseases such as Ebola.”

ENDS

Notes to Editors:  The UK and 40 other countries and jurisdictions from across the globe, took the next step in stamping out tax evasion by signing a new agreement at the Global Forum in Berlin to automatically exchange information. For more information please see the HMRC’s statement here