The OECD Global Forum has published 12 new peer review reports on progress towards implementation of the international standard for exchange of information. This is part of the initiative towards its goal to implement global standards on transparency and exchange of information for tax purposes.
Phase 1 reports on Albania, Burkina Faso, Cameroon, Dominican Republic, Lesotho, Pakistan and Uganda and were assessed to have legal frameworks in place to enable them to move to the next stage of the review process, which will assess exchange of information practices. The Global Forum also reviewed exchange of information practices through Phase 2 peer review reports in Lithuania and Sint Maarten. Both were given a rating for compliance with the individual elements of the international standard and an overall rating with Lithuania receiving an overall rating of ‘compliant’ and Sint Maarten an overall rating of ‘partially compliant’.
The Global Forum is the world’s largest international tax group, with 127 members on an equal footing. The Forum has now completed 198 peer reviews and assigned compliance ratings to 80 jurisdictions that have undergone Phase 2 reviews. Of these, 21 jurisdictions are rated ‘compliant’, 46 are rated ‘largely compliant’, 10 are rated ‘partially compliant’ and 3 jurisdictions are ‘non-compliant’. A further 12 jurisdictions are blocked from moving to a Phase 2 review due to insufficiencies in their legal and regulatory framework. Global Forum members will meet at their annual plenary meeting on 29–30 October 2015 in Bridgetown, Barbados.
The OECD Global Forum has published 12 new peer review reports on progress towards implementation of the international standard for exchange of information. This is part of the initiative towards its goal to implement global standards on transparency and exchange of information for tax purposes.
Phase 1 reports on Albania, Burkina Faso, Cameroon, Dominican Republic, Lesotho, Pakistan and Uganda and were assessed to have legal frameworks in place to enable them to move to the next stage of the review process, which will assess exchange of information practices. The Global Forum also reviewed exchange of information practices through Phase 2 peer review reports in Lithuania and Sint Maarten. Both were given a rating for compliance with the individual elements of the international standard and an overall rating with Lithuania receiving an overall rating of ‘compliant’ and Sint Maarten an overall rating of ‘partially compliant’.
The Global Forum is the world’s largest international tax group, with 127 members on an equal footing. The Forum has now completed 198 peer reviews and assigned compliance ratings to 80 jurisdictions that have undergone Phase 2 reviews. Of these, 21 jurisdictions are rated ‘compliant’, 46 are rated ‘largely compliant’, 10 are rated ‘partially compliant’ and 3 jurisdictions are ‘non-compliant’. A further 12 jurisdictions are blocked from moving to a Phase 2 review due to insufficiencies in their legal and regulatory framework. Global Forum members will meet at their annual plenary meeting on 29–30 October 2015 in Bridgetown, Barbados.
