In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on October 29, 2014
The Phase 2 review shows that Saint Vincent and the Grenadines has a comprehensive legal framework and sound practices for the exchange of information for tax purposes and received an overall rating of largely compliant. The monitoring as carried out by Saint Vincent and the Grenadines authorities generally ensures that ownership and banking information is available according to the standard. Saint Vincent and the Grenadines has made some legal amendments to bridge the gaps pointed out in its Phase 1 report, especially with respect to accounting information. The report recommends that Saint Vincent and the Grenadines monitors its new laws to ensure that it exchanges all types of information in line with the international standard. During the review period Saint Vincent and the Grenadines received only two requests which it answered in a timely manner. Saint Vincent and the Grenadines has limited experience in exchange of information. Nonetheless Saint Vincent and the Grenadines has put in place organisational processes and committed resources for handling exchange of information requests. Saint Vincent and the Grenadines should report steps taken to address the recommendations made in the Phase 2 report within twelve months. For further information on Saint Vincent and the Grenadines’ exchange of information practices click here.