On October 29 and 30, 2015 the 8th Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes took place. In connection with this meeting the Global Forum published 15 new peer review reports.
4 Phase 1 peer review reports were published. These Phase 1 reports regard Azerbaijan, Gabon, Romania and Senegal. The reports assessed the legal and regulatory frameworks of the aforementioned countries and concluded that these were in place to enable them to move to Phase 2 of the review process, which will assess exchange of information practices .
Furthermore 5 Phase 2 reports were published. These Phase 2 reports regard Colombia, Latvia, Liechtenstein, Costa Rica and Samoa. Colombia received an overall rating of “Compliant”. Latvia and Liechtenstein received an overall rating of “Largely Compliant”. And Costa Rica and Samoa received an overall rating of “Partially Compliant”.
Supplementary reviews on Brunei Darussalam, Dominica, Panama, Cyprus, Luxembourg and Seychelles were published. Brunei Darussalam, Dominica and Panama were originally blocked from moving to Phase 2, in the supplementary reviews it was concluded that they are now ready to move to the next stage. Cyprus, Luxembourg and Seychelles had previously been rated as Non-Compliant and in each case, following significant changes to their legal frameworks or practices, the new overall rating of “Largely Compliant” was assigned.
Click below on the country of your choice to be directly forwarded to the related peer review report:
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