THE Global Forum on Transparency and Exchange
of Information for Tax Purposes has published new peer review reports
for the Czech Republic, Kazakhstan and Morocco.
Phase 1 reports on Kazakhstan and Morocco assessed their legal and regulatory
framework for transparency and exchange of information. Morocco moves to the
next stage of the review process which will assess exchange of information
practices during the second quarter of 2015. Kazakhstan is blocked from moving
to Phase 2 of its review process due to significant gaps in its legal framework.
Elements which are crucial to achieving effective exchange of information are
not yet in place in Kazakhstan.
The Global Forum also reviewed exchange of information practices through a
Phase 2 peer review reports in the Czech Republic. It allocated ratings for
compliance with the individual elements of the international standard, as well
as an overall rating and the Czech Republic received an overall rating of “Largely
Compliant.”
The Global Forum has now completed 186 peer reviews and assigned compliance
ratings to 78 jurisdictions that have undergone Phase 2 reviews. Twenty jurisdictions
are rated “Compliant”, 44 are rated “Largely Compliant”, 10 are rated “Partially
Compliant” and 4 jurisdictions are rated as “Non-Compliant.” There are still
12 jurisdictions which remain blocked from moving to a Phase 2 review, due
to insufficiencies in the legal and regulatory framework.
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