In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on November 04, 2016
Also available in: French
The Phase 2 review rates Burkina Faso as overall largely compliant with the international standard. The legal and regulatory framework in Burkina Faso ensures that ownership, accounting and bank information is available in line with the standard. The lack of clarity on the practical arrangements to ensure that the new dematerialisation process is effective for all shares including eventually existing bearer shares has however led to a recommendation for improvement. The report notes that Burkina Faso has all the requisite access powers to obtain information and was able to access the information for the exchange of information (EOI) requests sent during the review period. Burkina Faso has recently put in place a new organisation for processing EOI requests, including a new exchange of information unit. As this new organisation remains untested, its operation should be monitored by the Burkina Faso authorities. For further information on Burkina Faso’s legal and regulatory framework in the field of transparency and exchange of information and its implementation in practice please access the full report here.