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Tax co-operation boosted as Global Forum publishes new reports

by Peter Beuvink, Monday, 2nd July 2012

The Global Forum has adopted nine new peer review reports and three supplementary reports. This brings to 79 the total number of reports adopted, with a further 17 reviews under way. The focus will now shift to exchange of information Ugg outlet  in practice with the launch of Phase 2 reviews and steps to improve cooperation amongst Competent Authorities.

The recently adopted preer review reports on Cook Islands, Liberia, Lebanon, Grenada, Montserrat, Saint Lucia, and United Arab Emirates describe each jurisdictions rules for ensuring that information is available to the tax authorities, how such information can be accessed by the authorities and the mechanisms in place to exchange information with foreign tax authorities. The reviews of the People’s Republic of China and Greece consider in addition whether the jurisdictions’ exchange information effectively in practice. The reviews also identify deficiencies and make recommendations on how to address them.

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