The organisations, which have worked together since 2000, expressed their intention to expand their cooperation in promoting fair and efficient tax systems and enhancing the efficiency and effectiveness of tax administration.

IOTA president Georgios Pitsilis said: "Today [28 January, 2020] marks an important milestone for IOTA and the OECD which reconfirms and further strengthens our strategic co-operation.

“I am pleased that the Memorandum of Understanding we are signing here today is expanding the scope of the co-operation where both organisations will benefit from sharing of perspectives on tax issues and feeding IOTA member views into OECD standard-setting in taxation, particularly in the areas of exchange of information and countering base erosion and profit shifting.”

OECD Centre for Tax Policy director Pascal Saint-Amans said: "IOTA is an important partner and we have a long-standing relationship of mutual benefit. Our joint work over the past years shows that by sharing knowledge and experience on taxation we can find common solutions to global challenges."