Ukraine participated in Global Forum on tax transparency and tax information exchange in the framework of OECD

22.10.2013

Ukraine became a full-fledged member of Global Forum on tax transparency and tax information exchange, which was established as a part of the Organization for Economic Co-operation and Development. The Forum began its work in early 2000, and nowadays its members are members of OECD and jurisdictions that are actively involved in activities providing tax transparency. Ukraine became the 121-th member of the Forum. The Minister of Revenue and Duties Alexander Klimenko said in his statement he is glad that Ukraine took the initiative to support relationship with other members of the Forum due to the exchange of tax information and ensuring tax transparency. In addition to making commitments for measures providing tax transparency, member states also must allow experts of the OECD to estimate their tax policy.

The tax policy of Ukraine will be estimated by experts of the Organization for Economic Co-operation and Development at the end of 2014.

Based on: http://minrd.gov.ua/en/mass-media/news/116857.html

Expert’s opinion

In case anyone does not remember: the Organization for Economic Co-operation and Development was established in 1948. Then it has name of the Organization for European Economic Co-operation (OEEC) and it was established to coordinate projects for Europe’s economic reconstruction under the Marshall Plan. And probably anyone hardly remember that Marshall Plan (the official name “European Recovery Program”) is a plan to help Europe to recover after war. Only experts know that Marshall Plan was scaled down after the French demarche of 1965, when de Gaulle demanded to exchange all “help” of the United States received in form of paper money for gold (causing every European country start demanding the same). A dollar’s gold equivalent fell into oblivion. But it gave birth to Jamaican monetary system and Forex and other facilities we would like to drop. As for OECD nowadays it is still active. The Organization is not a financial organization like the World Bank or the International Monetary Fund so the source of its activity is made up of Member States’ contributions. And try to guess who make the contributions? Taxpayers. And here the circle has been closed. So taxpayers should pay more for the OECD feeling more comfortable and “productive”. But it does not do anything, just consuming financial source from taxpayers. It is optimal unbeatable system for an organization like the organization mentioned above: it extracts all vital juice from the supporters. But the supporters feel worse and worse…Europe was in the heart of disasters such as epidemics caused by organisms gobbling its carriers inside the bodies: syphilis, smallpox, bubonic plague, influenza. But all these disasters died with their carriers. The only those survived which did not kill the carriers. That is why many diseases are conquered and those which still remain now can be cured with medicines. But it looks like Europe still needs pests of society. Now it is not biological kind of germs but political on society. So Ukraine entered into this Organization and now it means only one thing: Ukrainian taxpayers will pay more

Yaroslav Lomakin ( Managing Partner of Honest& Bright Company)