Reports on Andorra, Anguilla, Antigua and Barbuda, Austria, Bahrain, the Virgin Islands (British), Curaçao, Liechtenstein, Luxembourg, Saint Kitts and Nevis and the Turks and Caicos Islands focus on their legal frameworks which allow for transparency and exchange of tax information. The review of the United Kingdom considers the exchange of information in practice.

Two supplementary reports – for Belgium and the Cayman Islands – show that they are amending their domestic legislation to address recommenda-tions made by the Global Forum in previous reviews.

In all 12 new reviews, the most common deficiencies relate to: the lack of available ownership information for trusts and bearer shares; incomplete accounting information for some forms of trusts and partnerships including foreign or international entities; and some limitations in the international agreements allowing for exchange of information.

The Review Group noted that the United Kingdom has a good legal and regulatory framework for exchange of information, though insufficient mechanisms are in place to identify owners of bearer shares and there is a restrictive condition to its statutory infor-mation gathering powers according to the report. Improvements to ensure more timely responses to information requests are also recommended.

For full details see http://www.oecd.org/document/53/0,3746,en_21571361_44315115_48544565_1_1_1_1,00.html