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FOREIGN AFFAIRS—AUTOMATIC TAX INFORMATION EXCHANGE

The Leader of the Australian Greens (Senator Milne), pursuant to notice of motion not objected to as a formal motion, moved general business notice of motion no. 1071—That the Senate—

 (a) notes that offshore tax havens are a vehicle for international corruption with a current value of at least $21 trillion globally;

 (b) supports the European Union Savings Directive, the United States of America, the Organisation for Economic Co-operation and Development (OECD) and all other countries working to implement a comprehensive international agreement of automatic tax information exchange between revenue agencies, so that a receiving country will immediately report to another country when its citizen or corporation has transferred assets or income into its jurisdiction;


 (c) is highly critical of the `Rubik Agreements' signed between Switzerland and the United Kingdom, and Switzerland and Germany, used to undermine international progress towards closing the loopholes in the current multilateral agreement; and

 (d) urges the Government to work towards implementing a comprehensive global agreement on automatic tax information exchange.

Question put and negatived.