26th November 2024, Skopje – Minister of Finance, Gordana Dimitrieska-Kochoska, takes part in the Plenary Meeting of OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, to be held starting today until 29th November in Paraguay, dedicated to the global implementation of the international standards on tax transparency and countries’ progress, as well as the challenges the countries face when implementing the respective standards. At the Global Forum, the Minister is accompanied by the MoF State Secretary, Andriana Matlioska.
Minister Dimitrieska-Kochoska will be speaker at the panel discussions, focusing on the priorities, the experience and the challenges faced while implementing the AEOI Standard, which is critical for the jurisdictions, i.e. the countries, in the fight against tax evasion and in protecting the integrity of their tax systems.
At the Plenary Meeting, the Global Forum Secretariat will present the support extended to the members in the process of implementing the standards. There are over 170 jurisdictions which are currently members of the Global Forum, including all G20 countries, financial centers, with most of the members being developing countries. All members participate on an equal footing in the fight against offshore tax evasions.
Global Forum’s ultimate goal is capacity development to the end of supporting and enabling fast and effective implementation of the standards on transparency and exchange of information for tax purposes by all its members, in particular the developing countries.
Republic of North Macedonia is in the process of implementing the standards on automatic exchange of information. AEOI Standard requires exchange of a predefined set of information on financial accounts of non-residents on annual basis, with the information exchanged including details about the financial account (for instance, the financial institution maintaining the account, account number and account balance) and details about the account holder (for instance, name, address, date of birth and taxpayer’s ID).
Implementation of the AEOI Standard requires for the jurisdictions to collect information from their financial institutions each year and to automatically exchange the information with the jurisdictions in which the account holder is a tax resident. Legal and administrative framework is needed for successful exchange of information.
Draft Law on Administrative Cooperation in Tax Matters is in the process of preparation, containing the legal grounds and details on automatic exchange of information concerning country-by-country reports, which will also include provisions on automatic exchange of financial accounts. The Draft Law will regulate the specific legal framework contributing to the strengthening of cooperation among tax administrations, the fight against cross-border tax evasion, increase in tax revenue collection, as well as fight against corruption and money laundering.
In January 2011, Republic of North Macedonia became member of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.
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