Results of the G20 Summit in Saint Petersburg: This G20 summit cemented the global paradigm shift towards fairer taxation by endorsing the establishment of the automatic exchange of tax information.
We are highly satisfied that this new standard will be implemented as from 2015 among G20 members, as the EU has pushed for. This and the endorsement of the OECD's work on base erosion and profit shifting provide a powerful signal. The G20 are taking action to make sure that companies and individuals pay the taxes they are due and which are badly needed in these difficult times to invest in our future. Since long, the European Union has been and will continue to be at the forefront of this fight. In order to make it a success we will continue to provide our expertise and experience.