Kathmandu: Nepal has stepped up its efforts to combat tax evasion by joining the Global Forum on Transparency and Exchange of Information for Tax Purposes, becoming its 173rd member. With this move, Nepal is now the 24th country from Asia to be part of the international initiative, signalling a stronger commitment to global tax cooperation and accountability.
Welcoming Nepal into the forum, Chair Gaël Perraud said the decision reflects a shared global resolve to tackle tax evasion and avoidance through collective action. He noted that Nepal’s participation will not only reinforce the forum’s global network but also contribute to advancing international collaboration in tax matters.
The Global Forum brings together all G20 countries, every member of the OECD, major international financial centres, and a large number of developing nations. As a member, Nepal will participate on equal footing with other countries and has pledged to implement internationally agreed standards on the exchange of information upon request and automatic exchange of information. These measures are aimed at curbing offshore tax evasion and improving financial transparency.
Nepal’s Finance Minister, Rameshwar Prasad Khanal, described the membership as a major step toward strengthening the country’s tax administration, promoting good governance, and mobilizing domestic resources. He expressed confidence that Nepal would benefit from the forum’s technical expertise and capacity-building programs, which are expected to enhance transparency, prevent tax evasion, and better integrate Nepal into the global tax system.
As a new member, Nepal will receive targeted support through an induction program—a multi-year capacity-building initiative designed to help countries implement international tax standards and fully benefit from them.
The Global Forum is a leading multilateral body that works to ensure countries adhere to standards of tax transparency and information exchange. It monitors and reviews the implementation of frameworks such as the Common Reporting Standard for financial accounts and the Crypto-Asset Reporting Framework, while also supporting member countries through training and technical assistance programs.
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