The 15th Forum on Tax Administration (FTA) was hosted by the Australian Taxation Office and was also attended by international and Australian business representatives.
The FTA brings together commissioners from around the world (including all OECD and G20 countries) to identify and discuss relevant global trends, improve the fairness and effectiveness of tax administration, and improve compliance.
It was the first face-to-face meeting in three years and also the first time a larger number of business representatives have been invited to this forum.
The forum recognised that there are many tax challenges arising from the digitalisation of the global economy, but there are also many benefits possible in the digital transformation of tax administration.
Attendees were told that as the global economy continues to expand across borders, practical and timely sharing of knowledge and data between tax administrations has never been more important.
The FTA said it supports the digital transformation in taxation administration, recognising digitisation is important for not only improving tax compliance but also for providing contemporary services and meeting the changing expectations of citizens and businesses.
All countries collectively agreed to three priority focus areas for the year ahead to help guide multinational collective efforts.
These included the joint consideration of the detailed administrative and capability aspects related to implementing the two-pillar solution to address tax challenges arising from the digitalisation of the economy.
This will include standardised documentation requirements and exploring the use of new technology tools to help deliver common solutions to reduce burdens for both tax administrations and for business.
The second priority was the digital transformation of tax administration, and the third was identified as capacity building to support developing country tax administrations.
ATO Commissioner Chris Jordan said he was proud of the work the FTA has done as a group and particularly Australia’s involvement.
“A contemporary tax administration cannot exist in isolation from other jurisdictions, which is why we value international collaboration so highly,” Mr Jordan said.
