World Bank, IMF team up on tax
Print Edition
THE International Monetary Fund and the World Bank said yesterday they are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards for taxing multinational enterprises.
The new group, which will include the United Nations and the Organization for Economic Cooperation and Development, will focus on building effective tax systems in developing countries and avoid tax base erosion, the partners said.
The decision predates the release of the Panama Papers, which highlighted the widespread use of tax havens by wealthy individuals to avoid taxes, but an IMF official said the groups welcomed the heightened attention on tax issues the controversy has stoked.
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