CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Global Forum Reports On Information Exchange

Global Forum Reports On Information Exchange

by Ulrika Lomas, Tax-News.com, Brussels

05 August 2013


The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange. 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 stamp out 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.

To date, the Global Forum has reviewed 98 jurisdictions. The 50 jurisdictions to be assigned ratings in November will include a further 9 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, "compliant," "largely compliant," "partially compliant" or "non-compliant."

Welcoming the reports, the Chair of the Global Forum, Kosie Louw, of the South African Revenue Service, said: "The Global Forum is applying pressure on all jurisdictions to implement the standard and co-operate effectively in tax information exchange. The publication of the ratings later this year will be a crucial moment for all those committed to fighting cross-border tax evasion."

TAGS: South Africa | compliance | tax | tax compliance | Bahamas | India | Malta | Bermuda | Israel | Luxembourg | Monaco | Qatar | Virgin Islands | Austria | Brazil | G20 | British Virgin Islands | Lithuania | San Marino | Africa

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »