The Global Forum on Transparency and Exchange of Information for Tax Purposes has completed peer reviews on Brazil, Chile, Costa Rica, Cyprus, the Czech Republic, Guatemala, Malta, México, Saint Vincent and the Grenadines and the Slovak Republic under Phase 1 of the review process.

A review of Korea was also undertaken to assess the effectiveness of Korea's exchange of information in practice (Phase 1 plus Phase 2). These reports bring the total number to 70 peer reviews completed by the Global Forum since March 2010.

The reports of Costa Rica and Guatemala conclude that they will not yet move to the next stage of the review process because the deficiencies in their legal frameworks are serious, according to the Global Forum. This will be reconsidered once reports on their progress are received.

The Global Forum also issued 3 supplementary reports-for Barbados, Bermuda and Qatar which assess whether these jurisdictions have acted upon the Forum's recommendations to improve agreements and legislation. According to the Global Forum, all three jurisdictions’ compliance with the international standards has progressed significantly.

For full details see http://www.oecd.org/document/20/0,3746,en_21571361_44315115_50070740_1_1_1_1,00.html