The ANC welcomes the recent election of South Africa as the first African chair of the Global Forum on Transparency and Exchange of Information For Tax Purposes, which is aimed at ensuring that all member countries adhere to high standards of co-operation on tax matters.
The forum, which has more than 115 members is particularly concerned about global co-operation in tax matters and the enforcement of tax laws to stem cross-border tax evasion, particularly as financial markets become more liberalised. South Africa, as Africa's largest economy, takes over from Australia, and the SA Revenue Service's senior executive, Kosie Louw, will take over as the chairman.
According to the Finance Minister, Pravin Gordhan, the two-year chairmanship role announced at the forum's meeting in Cape Town recently would not only benefit the global tax administration community but also South Africa, which was assuming the role for the first time. He stated that the position of forum chair is especially important because the forum's current mandate expires in 2015, and it is during South Africa's tenure that a decision must be made on the best way to take the work of the forum forward. South Africa's tenure also coincides with very challenging times for tax administrations globally, especially when it comes to the exchange of information for tax purposes. Thank you very much, hon Speaker.