UK, France, Germany, Spain, and Italy (the G5) planed for a multilateral program in April which was based on the automatic exchange of tax information. Participants of 37 jurisdictions have expressed their intention to join. Luxembourg, Liechtenstein, Colombia, Greece, Ireland and Malta have signed the information exchange agreement. It was welcomed by the finance ministers of the G5 countries.
The UK Government has admitted that the participants in the agreement recognize that embracing tax transparency and tackling tax evasion will ensure prosperity of the financial center.
