The Global Forum on Transparency and Exchange of Information for Tax Purposes (“the Global Forum”) recently published seven peer review reports assessing compliance with the international standard on transparency and exchange of information on request. The seven jurisdictions reviewed (Hong Kong, Liechtenstein, Luxemburg, Netherlands, Spain, Turks and Caicos and North Macedonia) were rated “Largely Compliant”.

The Global Forum will be celebrating its 10th year anniversary later this year. Its objective is to implement both the standard of transparency and exchange of information on request and the standard of automatic exchange of financial account information.

This objective is achieved through a monitoring and peer review process. The Global Forum also runs an extensive technical assistance programme to provide support to its members in implementing the standards and tax authorities to make the best use of cross-border information sharing channels. Reports for the seven jurisdictions recently assessed are available on the OECD’s website.