The OECD has announced that the Global Forum on Transparency and Exchange of Information (EOI) for Tax Purposes has published the enhanced exchange of information peer reviews for Austria, Aruba, Bahrain, Brazil, Saint Kitts and Nevis, Singapore, and the United Kingdom. The enhanced peer review process concerns the exchange of information upon request, with a focus on beneficial ownership information exchange.
Two jurisdictions, Bahrain and Singapore, received an overall rating of “Compliant”. The other five jurisdictions, Austria, Aruba, Brazil, Saint Kitts and Nevis, and the United Kingdom, were rated “Largely Compliant”. The jurisdictions have demonstrated their progress on many deficiencies identified in the first round of reviews including improving access to information, developing broader EOI agreement networks; and monitoring the handling of increasing incoming EOI requests as well as taking measures to implement the strengthened standard on the availability of beneficial ownership.
The announcement also notes that Oman has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes, bringing the total number of members to 154. As a member of the Forum, Oman will now be subject to monitoring and a peer review process to ensure the implementation of and compliance with the international standards for information exchange.
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