Fiji has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.
The Global Forum is the leading international body working on the implementation of global transparency and exchange of information standards around the world.
FRCS acting CEO Malakai Naiyaga said the decision to join the global forum was a major step towards achieving one of the institution’s strategic objectives for the year to remove Fiji from the EU blacklist.
He said with government backing, that was achieved.
“The team at FRCS are dedicated to removing Fiji from the EU blacklist,” Mr Naiyaga said.
“Having progressed through various crucial EU requirements, we have a well-defined plan to address the other outstanding obligations.
“Joining the forum will also enhance our international collaboration against tax evasion and avoidance.”
Global Forum chairperson Gael Perruad said they were pleased to welcome Fiji as the latest forum member.
“Fiji’s adhesion perfectly demonstrates the joint resolve to enhance and optimise international collaboration in the fight against tax evasion and avoidance.
“Like all other members, Fiji will participate in the decisions of the Global Forum on an equal footing and will engage in combatting offshore tax evasion through the implementation of the internationally-agreed standards of Exchange of Information on Request and Automatic Exchange of Financial Account Information.”