In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on August 03, 2015
The Phase 1 review of Albania finds that generally, the legal and regulatory framework for the availability of information is in place. However, Albania should ensure that an appropriate mechanism in put in place to ensure the ownership information for bearer shares issued prior 2008. Albania has sufficient powers to access information for both domestic and exchange of information purposes and the right balance has been struck between rights and safeguards and accessing information. However, it is recommended that Albania ensures that the scope of the professional privilege is in line with the international standard. At present, Albania’s network of EOI mechanisms covers 94 jurisdictions and Albania is continuing to negotiate further agreements to extend their EOI network. The response of Albania to the recommendations in this report, as well as the application of the legal framework to the practices of its competent authority will be considered in detail in the Phase 2 Peer Review of Albania which is scheduled to commence in the third quarter of 2015. For further information on the exchange of information practice of Albania and to read the full report click here.