On 20–22 March 2019, we co-hosted the fifth Organisation for Economic Co-operation and Development (OECD) Global Forum on value added tax (VAT) and goods and services tax (GST).
Assistant Treasurer the Hon. Stuart Robert, MP, officially opened the event with OECD Deputy Secretary-General Ludger Schuknecht, and Commissioner of Taxation Chris Jordan.
We welcomed around 300 participants from over 100 delegations, representing international organisations, the business community and academia.
This is only the second time the Global Forum has been held outside of France. Co-hosting the event in Australia recognises our achievements implementing the GST on digital services and products and GST on low-value goods measures.
We were proud to showcase the leading role Australia is taking in adapting GST to respond to the online marketplace, both within Australia and globally.
The success of these measures shows we can support a level playing field for online and physical businesses and between domestic and foreign businesses.
Not only have we had high levels of registration and well above forecast revenue, we’ve even had feedback from some online sellers that registering has improved their business processes and given them greater insight into their sales performance.
The interest in our reforms from other countries means that we can look forward to increased international cooperation as more jurisdictions follow this, or similar, models.
International cooperation across all aspects of tax administration remains one of the most important tools we have for ensuring everyone is paying the right amount of tax and that we are protecting honest businesses from unfair competition.
Watch our video on our LinkedIn Showcase page: focus on medium and large business with Tim Dyce, Deputy Commissioner of Private WealthExternal Link, sharing some of his key takeaways from presenting the concluding session.
We recently co-hosted an OECD Global Forum on value added tax (VAT) and goods and services tax (GST) in Melbourne.Last modified: 27 Mar 2019QC 58411See the full article at the ATO website