The Global Forum conducts peer reviews of its member jurisdictions' ability to co-operate with other tax administrations in accordance with the internationally agreed standard. The standard provides for exchange of information on request where it is foreseeably relevant to the administration and enforcement of the domestic tax laws of the requesting jurisdiction. Effective exchange of information requires that jurisdictions ensure information is available, that it can be obtained by the tax authorities and that there are mechanisms in place allowing for the exchange of that information.
In accordance with the peer review Methodology, reviews take place in two phases: Phase 1 reviews examine the legal and regulatory framework; Phase 2 reviews look into the implementation of this framework in practice. In the first round, certain jurisdictions underwent combined reviews, which evaluated together the Phase 1 and Phase 2 aspects. Jurisdictions who have not made sufficient progress on Phase 1 will receive a supplementary review before moving to Phase 2 and be rated.
In the new round, all reviews will be carried out in a combined manner. All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are reviewed in the order established by the Schedule of Reviews. After completion of both Phases of the review process, each jurisdiction receives an overall rating.
Following calls in April 2016 by the G20 Finance leaders to establish objective criteria and a list of jurisdictions which have not made satisfactory progress in implementing the international tax transparency standards, a special Fast-Track review procedure was approved at the 2016 Georgia plenary meeting. This procedure was implemented during April-June 2017. Several jurisdictions were able to demonstrate progress in implementing the EOIR standard through this procedure which resulted in a provisional upgrade to their ratings. More information on the Fast Track procedure and its outcomes can be found here: Fast-Track procedure.
The Exchange of Information Portal tracks the development of these peer reviews, including changes that jurisdictions make in response to the Global Forum's recommendations.
Peer review reports
All review reports are published once approved by the Global Forum and they thus represent agreed Global Forum reports.