New delhi: The Sultanate of Oman participated in the 18th meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, which took place in New Delhi, India. The Omani delegation was led by Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority.
According to Oman News Agency, the meeting attracted participation from 400 representatives spanning 124 member states, in addition to 12 observers and 7 invited entities from outside the membership. Representatives from civil society and academic authorities were also present. The discussions focused on strategic dimensions essential for achieving the Forum’s objectives, which revolve around three main pillars: ongoing monitoring and review of international transparency standards, conducting peer reviews, and evaluating the effectiveness of these standards in member states.
The meeting further delved into capacity-building programs and technical assistance activities, which aim to support member states in developing their tax systems. In a significant move, Nasser bin Khamis Al Jashmi signed an annex related to the amendment of the Common Reporting Standard (CRS). This action underscores the efforts to enhance regulatory systems and improve the automatic exchange of information, aligning with global developments to bolster Oman’s commitment to high transparency standards in tax matters.