Global

Details

  • Service: Tax, International Executive Services, International Tax
  • Type: Regulatory update
  • Date: 8/4/2014

OECD - Compliance ratings for tax transparency of 10 jurisdictions 

August 4: A global forum of the Organisation for Economic Co-operation and Development (OECD) today announced the release of “peer review” reports demonstrating progress by countries toward implementation of an international standard for exchange of information on request—tax transparency—and issued compliance ratings for 10 jurisdictions.

An OECD release reveals the following findings under the “Phase 2” peer review of the 10 jurisdictions:


  • Five jurisdictions—Andorra, Anguilla, Antigua and Barbuda, Indonesia, and Saint Lucia—received an overall rating of “partially compliant.”
  • Four jurisdictions—Chile, Macedonia, Montserrat, and St. Kitts and Nevis—received an overall rating of “largely compliant.”
  • Mexico was rated as “compliant.”

The OECD release provides updates on the status of other jurisdictions.


With the release of these reviews, the OECD Global Forum has now completed 143 peer reviews and assigned compliance ratings to 64 jurisdictions.


Additional peer reviews will be completed late October 2014, at which time, a much higher level of tax transparency worldwide is expected.




©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now