Categories: Business

World Bank, AfDB, Global Forum Unleash New EOI Manual To Support Taxation Worldwide

The World Bank Group, the African Development Bank (AfDB) and The Global Forum a leading multilateral body mandated on Transparency and Exchange of Information for Tax Purposes (Global Forum), have jointly published a new version of the Manual on Exchange of Information (EOI) as a way of supporting tax authorities worldwide.

Exchange of information (EOI) which is an essential tool for tax authorities globally would guide to ensure that all taxpayers pay the correct amount of tax.

This new edition covers a broader range of exchange-of-information tools, such as tax examinations allowing two or more jurisdictions to conduct simultaneous audits of person(s) of common or complementary interest, or tax examinations abroad to collect information in a foreign jurisdiction.

The manual can easily be tailored to address a jurisdiction’s specific needs. It also provides checklists and various template letters to deal with the main forms of communications carried out by EOI units.

The leading bodies noted that French, Spanish and Portuguese versions of the manual will be published over the coming months.

The previous edition of the manual, issued in 2013 by the Global Forum and the World Bank Group, was dedicated to exchange of information on request and spontaneous exchange of information.

Click here to download the manual – https://bit.ly/3CpmHo6

Click here to access more resources – https://bit.ly/3EpDtFf

The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the standard of transparency and exchange of information.

GF also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.

The African Development Bank Group (AfDB) which is Africa’s premier development finance institution, comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). AfDB contributes to the economic development and the social progress of its 54 regional member states.

Omotayo Araoye

Follow us on:

AriseNews

Recent Posts

Our Reforms Are yielding Positive Results, We Will Provide Social Safety Nets to Cushion Hardships, Tinubu Tells IMF

Tinubu has assured the IMF that his reforms are bearing positive results, vowing to prioritise…

2 mins ago

CAC Removes Innoson, Daitama, 80,000 Dormant Companies From Register For Ignoring Annual Return Deadlines

The CAC has removed dormant companies that failed to file annual reports for 10 years…

9 hours ago

NEC Gives Kwara, Kebbi, Adamawa One Week To Submit State Police Reports

NEC has set a one-week deadline for Kwara, Kebbi, and Adamawa to submit state police…

11 hours ago

Amazon Faces Potential EU Investigation Over Preferential Treatment Of Own Products

Amazon may face an EU investigation over preferential treatment of its own products under the…

11 hours ago

Akpabio Hails Igbo Resilience + Ndume Begs Senate To Allow Ubah’s Widow Succeed Him – Trending With Ojy Okpe

https://cdn.veri.app/a21afe40-c7c7-4a5c-b145-4fc72382ab4b.mp4 Senate President, Godswill Akpabio, during the night of tribute, held in honour of the…

11 hours ago

Kano Governor Yusuf Reunites 76 Pardoned Minors To Families

The Kano State government has reunited 79 pardoned minors accused of looting in the #End…

11 hours ago