Today, Australia and Britain have agreed a shared agenda to combat tax avoidance and evasion. Britain has made this a priority for its G8 presidency this year; Australia will make it a priority for its G20 presidency next year.
This will ensure momentum is maintained in global leadership. Australia will join the pilot scheme for the multilateral exchange of tax information established by Britain along with France, Germany, Italy and Spain in April 2013.
This pilot will allow for automatic information exchange between participating countries, helping Australian and other tax authorities to fight international tax evasion and ensure that all taxpayers pay their fair share.
A number of other countries have already joined the pilot and it represents an important step in establishing new standards for the exchange of tax information. We strongly encourage other countries to join in this effort.
Australia and Britain have been and remain leaders in the international effort to combat international tax evasion, including through better information sharing between jurisdictions.
Australian Treasurer, The Hon Chris Bowen MP: "This continues Australia's strong commitment and leadership in promoting better exchange of information to help ensure the integrity of the international tax system."
UK Chancellor of the Exchequer, Rt Hon George Osborne MP: "This weekend's G20 meeting is an important step towards fighting tax evasion and addressing avoidance at the global level. The shared agenda between Britain as this year's G8 chair and Australia as next year's G20 chair will ensure continuity and consistency in global leadership in ensuring we have a global tax system that is fair and fit for purpose for the modern economy."
This move complements the OECD/G20 project on Base Erosion and Profit Shifting to address tax avoidance, which both the UK and Australia strongly support. We will continue to build on these efforts.
20 July 2013