THE Global Forum on Transparency and
Exchange of Information for Tax Purposes has completed peer reviews of
11 more jurisdictions.
Reports on Brazil, Chile, Costa Rica, Cyprus, the Czech Republic, Guatemala,
Malta, Mexico, Saint Vincent and the Grenadines and the Slovak Republic evaluate
whether their national laws allow transparency and international exchange
of tax information (Phase 1). The review of Korea also looked at the effectiveness
of Korea’s exchange of information in practice (Phase 1 plus Phase 2). These
reports bring to a total of 70 the number of peer review the g Global Forum
has completed since March 2010.
The Global Forum also issued 3 supplementary reports – for Barbados, Bermuda
and Qatar – which assess whether these jurisdictions have acted upon the
Forum’s recommendations to improve agreements and legislation. All three
jurisdictions’ compliance with the international standards has progressed
significantly. The Phase 2 reviews for Bermuda and Qatar will take place
in the second half of 2012 and for Barbados in the first half of 2013.
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