Network backed by IMF, World Bank and OECD issues new tax transparency standards for all governments 

New international standards aimed at improving global tax transparency with 14 guiding principles have been published by the General Assembly of the Global Initiative for Fiscal Transparency (GIFT). GIFT was founded in 2011 as a multi-stakeholder action network to advance fiscal transparency, participation, and accountability in countries around the world. The basic motivation for establishing it was that the overall state of budget transparency around the world is poor. In a statement on 15 August, GIFT said it had sought the expertise of University of Sheffield academics to explore ...