The international discussion board on Transparency and alternate of data for Tax reasons is the multilateral framework in which paintings within the quarter of tax transparency and trade of data is conducted by way of 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 evaluation 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 knowledge on Tax Matters and its statement, and in Article 26 of the OECD Model Tax conference on source of revenue and on Capital and its statement as up to date in 2004, which has been included within the UN version Tax conference.
The criteria supply for foreign trade on request of foreseeably suitable details for the management or enforcement of the household tax legislation of a soliciting for celebration. “Fishing expeditions” are usually not approved, yet all foreseeably suitable info has to be supplied, together with financial institution info and data held through fiduciaries, whatever the life of a family tax curiosity or the appliance of a twin illegal activity standard.
All participants of the worldwide discussion board, in addition to jurisdictions pointed out by way of the worldwide discussion board as appropriate to its paintings, are being reviewed. This strategy is undertaken in stages. section 1 stories determine the standard of a jurisdiction’s felony and regulatory framework for the trade of knowledge, whereas part 2 stories examine the sensible implementation of that framework. a few international discussion board participants are present process mixed – part 1 plus section 2 – stories. the last word aim is to aid jurisdictions to successfully enforce the foreign criteria of transparency and trade of data for tax reasons.
All evaluate reviews are released as soon as licensed by means of the worldwide discussion board they usually hence signify agreed worldwide discussion board reports.
For additional info at the paintings of the worldwide discussion board on Transparency and trade of data for Tax reasons, and for copies of the broadcast assessment stories, please stopover at www.oecd.org/tax/transparency