OECD surveilles the compliance with the international standards for exchange of tax information

The OECD Global Forum on Transparency and Exchange of Information for Tax Purposes presented 9 new reports on estimation of international progress in implementation of the unified standard for exchange of tax information.

One of the reports is dedicated to Switzerland, which has shown a decent step forward in the discussed sphere.

Among others were marked the legislation of El Salvador and Mauritania, who have both moved over to a new level of review on the part of OECD and will be able to join the process of exchange in the first half of 2015.

According to the reports, 6 more jurisdictions have received a personal rating of compliance with the international standards. Five of them: Aruba, Cook Islands, Hungary, Portugal and Uruguay have received an overall rating of Largely Compliant, while the sixth – Curaçao – was only rated as Partially Compliant.

Thus, the OECD has already assigned 76 ratings, among which 4 countries were declared Non-Compliant, 10 – Partially Compliant and 11 jurisdictions remain blocked from moving to a new phase of review. In addition, in February 2015 was launched a supplementary review of Marshall Islands.

Source:

http://www.oecd.org/tax/international-community-continues-making-major-progress-to-end-tax-evasion.htm