The Dominican Republic has joined more than 60 other countries in a global tax co-operation initiative through a key multilateral tax instrument, the Global Forum that brings together 121 countries and jurisdictions. The Forum provides a platform for information exchange and the establishment of a new Automatic Exchange of Information (AEOI) Group. The plan is to implement a new global tax environment to benefit governments worldwide. The governments are seeking to change international taxation rules to prevent individuals from hiding their money offshore and companies from shifting their profits away from the location where the profit was made. The initiative also seeks to get more tax jurisdictions worldwide to join the Convention on Mutual Administrative Assistance in Tax Matters, which provides a legal basis for automatic exchange of information.
www.theinformationdaily.com/2013/11/22/six-new-countries-join-fight-to-combat-tax-avoidance-at-global-forum