David Jetuah, Accountancy Age, Thursday 3 June 2010 at 09:53:00

Two countries now ranked in OECD category of jurisdictions that havesubstantially implemented the internationally agreed tax standard

Brazil and Indonesia have won OECD recognition for their tax standards.

As a result of details provided to the Global Forum on Transparency andExchange of Information for Tax Purposes, the two countries are now ranked inthe category of jurisdictions that have substantially implemented theinternationally agreed tax standard.

The two countries joined the OECD's Global Forum last September.

The body said it had updated its progress report, first issued in conjunctionwith the G20 London summit in April 2009, to take account of improvements madeby the two countries signing information exchange agreements.

"According to the information provided, Brazil has more than 25 bilateral taxtreaties that provide for exchange of information in tax matters to theinternationally agreed standard while Indonesia has 53 agreements that meet thestandard."

Further reading:

Caribbeantrio secure OECD tax endorsement