The worldwide discussion board on Transparency and alternate of knowledge for Tax reasons is the multilateral framework during which paintings within the zone of tax transparency and alternate of knowledge is performed through over ninety jurisdictions which perform the paintings of the worldwide discussion board on an equivalent footing.
The international discussion board is charged with in-depth tracking and peer evaluate of the implementation of the factors of transparency and trade of knowledge for tax reasons. those criteria are basically mirrored within the 2002 OECD version contract on trade of data on Tax issues and its observation, and in Article 26 of the OECD version Tax conference on source of revenue and on Capital and its statement as up to date in 2004, which has been integrated within the UN version Tax conference.
The criteria offer for foreign alternate on request of foreseeably proper info for the management or enforcement of the household tax legislation of a asking for occasion. “Fishing expeditions” usually are not approved, yet all foreseeably appropriate details has to be supplied, together with financial institution info and data held through fiduciaries, whatever the life of a household tax curiosity or the applying of a twin illegal activity standard.
All participants of the worldwide discussion board, in addition to jurisdictions pointed out by means of the worldwide discussion board as proper to its paintings, are being reviewed. This procedure is undertaken in levels. part 1 experiences determine the standard of a jurisdiction’s felony and regulatory framework for the trade of data, whereas section 2 stories examine the sensible implementation of that framework. a few worldwide discussion board contributors are present process mixed – part 1 plus part 2 – studies. the last word objective is to assist jurisdictions to successfully enforce the foreign criteria of transparency and alternate of knowledge for tax reasons.
All assessment stories are released as soon as authorized via the worldwide discussion board they usually therefore signify agreed international discussion board reports.
For additional info at the paintings of the worldwide discussion board on Transparency and alternate of knowledge for Tax reasons, and for copies of the printed evaluate reviews, please stopover at www.oecd.org/tax/transparency