ECONOMY

Athens signs tax collection and evasion agreement

Greece signed an international convention enabling countries to assist one another in tackling tax evasion and tax collection, the Organization for Economic Cooperation and Development said on Wednesday.

?At a time when Greece is looking to shore up its economy in line with a new financial package supported by the euro area countries and other stakeholders, the convention will allow Greece to work more closely with other countries to combat tax avoidance and evasion,? the Paris-based body said in a statement on its website.

?This signing is a step toward Greece?s efforts to restore the longer-term sustainability of its public finances,? Angel Gurria, OECD secretary-general, said, according to the statement. ?The convention will help Greece improve its internal tax collection system and to pursue the tax revenues lost to tax avoidance and evasion.?

Greece joins 14 other European Union countries who have signed the agreement, as well as Japan, Russia and the United States. [Bloomberg]