Details

Autor(en) / Beteiligte

• OECD,

Titel

Global Forum on Transparency and Exchange of Information for Tax Purposes: Faroe Islands 2023 (Second Round) : Peer Review Report on the Exchange of Information on Request

Auflage

1st ed

Ort / Verlag

Paris : OECD Publishing,

Erscheinungsjahr

2023

Beschreibungen/Notizen

• Global Forum on Transparency and Exchange of Information for Tax Purposes : Peer Reviews - https://doi.org/10.1787/2219469x -- Global Forum on Transparency and Exchange of Information for Tax Purposes : Peer Reviews - <div>The Global Forum on Transparency and Exchange of Information for Tax Purposes is a multilateral framework for tax transparency and information sharing, within which over 160 jurisdictions participate on an equal footing.The Global Forum monitors and peer reviews the implementation of international standard of exchange of information on request (EOIR) and automatic exchange of information. The EOIR provides for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. All Global Forum members have agreed to have their implementation of the EOIR standard be assessed by peer review. In addition, non-members that are relevant to the Global Forum's work are also subject to review. The legal and regulatory framework of each jurisdiction is assessed as is the implementation of the EOIR framework in practice. The final result is a rating for each of the essential elements and an overall rating.The first round of reviews was conducted from 2010 to 2016. The Global Forum has agreed that all members and relevant non-members should be subject to a second round of review starting in 2016, to ensure continued compliance with and implementation of the EOIR standard. Whereas the first round of reviews was generally conducted as separate reviews for Phase 1 (review of the legal framework) and Phase 2 (review of EOIR in practice), the EOIR reviews commencing in 2016 combine both Phase 1 and Phase 2 aspects into one review. Final review reports are published and reviewed jurisdictions are expected to follow up on any recommendations made. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.</div> -- Book.
• Intro -- Table of contents -- Reader's guide -- Abbreviations and acronyms -- Executive summary -- Summary of determinations, ratings and recommendations -- Overview of the Faroe Islands -- Part A: Availability of information -- A.1. Legal and beneficial ownership and identity information -- A.2. Accounting records -- A.3. Banking Information -- Part B: Access to information -- B.1. Competent authority's ability to obtain and provide information -- B.2. Notification requirements, rights and safeguards -- Part C: Exchange of information -- C.1. Exchange of information mechanisms -- C.2. Exchange of information mechanisms with all relevant partners -- C.3. Confidentiality -- C.4. Rights and safeguards of taxpayers and third parties -- C.5. Requesting and providing information in an effective manner -- Annex 1: List of in-text recommendations -- Annex 2: List of the Faroe Islands' EOI mechanisms -- Annex 3: Methodology for the review -- Annex 4: The Faroe Islands' response to the review report.
• This publication contains the 2023 Second Round Peer Review on the Exchange of Information on Request for the Faroe Islands.
• Description based on publisher supplied metadata and other sources.