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5 August 2015

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OECD Publishes Peer Review Reports on Transparency and Information Exchange for 12 Jurisdictions

On 3 August 2015, the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes published new peer review reports for 12 jurisdictions. The reports and their results are as follows:

The reports are part of a review process for compliance with the international standard for information exchange. Phase 1 reports include an evaluation of a jurisdiction's legal and regulatory framework for transparency and exchange of information, and provide recommendations for improvement. Jurisdictions deemed to have a sufficient framework in place move on to the Phase 2 report, which looks at the actual implementation of the standard for information exchange, and provides a compliance rating as well as recommendations for improvement. The compliance ratings include non-compliant, partially compliant, largely compliant or compliant.

Click the following link for an overview of the compliance ratings provided for the 37 jurisdictions that have completed Phase 1 and the 80 jurisdictions that have completed Phase 2.

In addition to the peer review reports, the OECD also announced that the Global Forum has launched a multilateral process to evaluate confidentiality and data safeguards frameworks in more than 90 jurisdictions that have committed to begin automatic information exchange by 2017 or 2018.

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