In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on March 14, 2016
The Phase 2 review rates Georgia as overall largely compliant with the international standard. Georgia’s legal framework generally ensures that ownership, accounting and banking information is available in accordance with the standard. Georgia has taken action to address a key recommendation made in its Phase 1 peer review regarding its powers to access banking information, which is a significant improvement. Georgia has in place also appropriate organisational processes to ensure provision of responses in a timely manner as was demonstrated over the last three years. The report nevertheless identified a few areas for improvement mainly in respect of the oversight of availability of information and the broad scope of professional secrecy provisions. For further information on Georgia’s exchange of information practices and to read the full report click here.