29 Jan 2020

Palau joins global forum on tax transparency

10:56 am on 29 January 2020

Palau has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The President of Palau Tommy Remengesau Jr.

The President of Palau Tommy Remengesau Jr. Photo: RNZI / Koro Vaka'uta

It is the 160th member state of the multi-lateral body, which operates under the auspices of the Organisation for Economic Co-operation and Development.

Members commit to combating tax evasion through implementing internationally agreed standards of transparency and information exchange.

In October, the European Union agreed to move Palau from its black list of tax havens to a so called 'grey list' after it committed to reforms.