In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on March 16, 2015
The Phase 1 review of El Salvador finds that, generally, the legal and regulatory framework for the availability of information is in place. However, El Salvador should ensure that an appropriate mechanism in put in place to ensure the ownership information for bearer shares is available in all cases. El Salvador 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. At present, El Salvador’s network of information exchange mechanisms covers 5 jurisdictions and El Salvador is continuing to negotiate further agreements. El Salvador’s response 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 El Salvador which is scheduled for the second quarter of 2015. For further information on the exchange of information practice of El Salvador and to read the full report click here.