Just In: Switzerland Now ‘Largely Compliant’ with International Transparency Rules.


In 10 reports released today, by the OECD Global Forum on Transparency and Exchange of Information, St. Lucia, Switzerland, Albania, Cameroon, Gabon, Pakistan and Senegal are all found ‘Largely Compliant with international tax transparency and exchange of information rules.

The United Arab Emirates was found ‘Partially Compliant’ only.

Both Ukraine and Liberia‘s legal and regulatory framework for transparency and exchange of information, have been found sufficient to move Ukraine to the new round of reviews, which will assess its legal framework and practices for exchange of information against the revised terms of reference during the second half of 2018.

With the release of this latest batch of reviews, the Global Forum has now completed  235 peer reviews and assigned compliance ratings to 101 jurisdictions that have undergone Phase 2 Reviews. Twenty-two  jurisdictions are rated “Compliant,” 67 are rated “Largely Compliant,” and 12 are rated “Partially Compliant”. There are still 7 jurisdictions which remain blocked from moving to a Phase 2 review, due to insufficiencies in the legal and regulatory framework. The supplementary reviews of five of these jurisdictions are currently under way.

Egypt has just joined the Global Forum, bringing membership to 135 jurisdictions.

Full details here.


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