In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on May 26, 2015
The Phase 2 review rates the Czech Republic overall as largely compliant with the international standard. The Czech Republic’s legal framework generally ensures that ownership information, accounting and bank information is available according to the standard. Bearer shares had to be immobilized, or book-entered as of 1 January 2014. The report notes that the Czech Republic should monitor the practical implementation including the enforcement of these recently introduced changes. The report further notes that the Czech Republic’s tax administration has broad powers to access accounting information and information on the ownership of legal entities. The Czech Republic also has in place appropriate organisational processes to ensure effective exchange of information. However, the report notes that the Czech Republic should monitor that its procedures to allow the use of information as evidence in criminal tax cases does not exceed the limitations on exchange of information as provided under the international standard. For further information on the Czech Republic’s exchange of information practices and to read the full report click here.