OECD - Reports on tax transparency, review of jurisdictions’ tax information exchange 

July 31: The Organisation for Economic Co-operation and Development (OECD) today announced the release by the Global Forum on Transparency and Exchange of Information for Tax Purposes of its “peer review reports” assessing the tax systems of 13 jurisdictions with respect to tax information exchange.

Today’s OECD release states that later this year, most of these reviews will feed into the ratings assigned to 50 jurisdictions—backing G20 and Global Forum efforts to strengthen tax cooperation and to counter cross-border tax evasion.

The new reports cover key players in a move toward greater tax co-operation.

  • The 11 “Phase 2” reports review the exchange of information in practice in Austria, Bermuda, Brazil, British Virgin Islands, India, Luxembourg , Malta, Monaco, Qatar, San Marino and The Bahamas.
  • The two “Phase 1” reports look at the legal and regulatory framework for transparency and exchange of information in Israel and Lithuania.

All the reports assess the jurisdictions’ commitment to the international standard for tax information exchange.

Read the OECD reports (July 31, 2013).

To date, the Global Forum has reviewed 98 jurisdictions. The 50 jurisdictions to be assigned ratings in November will include a further nine Phase 2 reports expected to be adopted at that time.

Each jurisdiction will receive ratings for the individual elements of the international standard and an overall rating—i.e., as “compliant,” “largely compliant,” “partially compliant” or “non-compliant”.

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