The Global Forum on Transparency and Exchange of Information for Tax Purposes has just completed peer reviews of 11 jurisdictions. This brings to 70 the number of peer review reports completed since March 2010.
OECD countries acknowledge that taxes must play a role in the process of fiscal consolidation as they battle unprecedented budget deficits. In 2010, the majority of OECD governments have stabilised their tax to GDP, with the average ratio moving up slightly from 33.8% in 2009 to 33.9% in 2010.
A new law on access to bank information will enable Chile to exchange banking information under existing tax treaties, thereby complying with the internationally agreed tax standard for exchange of information.