Pretoria – South Africa is to host the 2012/2013 meeting of the Global Forum on the Transparency Exchange of Information for Tax Purposes, Cabinet spokesperson Jimmy Manyi said on Thursday.
Cabinet approved the hosting of the event during its ordinary meeting on Wednesday.
According to Manyi, the meeting will be an opportunity for South Africa and its counterparts to initial or sign Tax Information Exchange Agreements that have been negotiated but not signed as yet.
“The signing of these agreements would allow for the sharing of information for tax purposes and counter tax avoidance activities,” he explained.
With the exception of Africa, every geographic region in the world has had the opportunity to host an annual meeting of Global Forum. South Africa will become the first African country to host a meeting of the global Forum.
“Hosting [the meeting] may lead to the establishment of greater networks for the exchange of tax information between African countries and their international partners. The South African economy will benefit from the presence of foreign visitors.”
He added that it will also be an opportunity for SA to underscore the importance of tax compliance in support of economic and social development.
Source :- BuaNews – Government Communication and Information System – 10 Nov 2011