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.