OECD's Global Forum Releases New Tax Transparency Reports

by Mike Godfrey, Tax-News.com, Washington

06 April 2018

The OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes has published nine peer review reports assessing territories' compliance with international standards on tax transparency.

Eight of these reports assess countries against the updated standards, which require among other things the collection of information on beneficial ownership of all legal entities and arrangements.

Four jurisdictions – Estonia, France, Monaco, and New Zealand – received an overall rating of "Compliant." The Bahamas, Belgium, and Hungary were rated "Largely Compliant" and Ghana was rated "Partially Compliant."

Progress from Jamaica was recognized in a supplementary report which awarded a "Largely Compliant" rating.

The Global Forum is the premier international body for ensuring the implementation of internationally agreed standards of transparency and exchange of information in tax matters. It now has 150 members.

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