Global Forum on Transparency and Exchange of Information for Tax Purposes

23/05/2025 – The Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) visited Kuwait to assist in its preparations for the upcoming Phase 2 review under the Standard on Transparency and Exchange of Information on Request (EOIR), as well as the Second Round Effectiveness Review under the Common Reporting Standard for Automatic Exchange of Financial Account Information (CRS).

As part of its ongoing commitment to enhancing tax transparency and international co-operation, Kuwait has been working closely with the Global Forum Secretariat to ensure it complies with the exchange of information standards.

From 18 to 20 May 2025, experts from the Global Forum Secretariat were invited by the Kuwaiti authorities to carry out a mock on-site visit in Kuwait City to discuss the progress achieved in implementing the recommendations of 2022 Phase 1 EOIR Peer Review Report of Kuwait and the remaining challenges, as well as preparing stakeholders for the upcoming peer review process. Various meetings with government representatives and the private sector were organised. The Phase 2 review of Kuwait is scheduled to be launched in the fourth quarter of 2025, with the results to be published in the fourth quarter of 2026.

From 21 to 22 May 2025, experts from the Secretariat conducted another mock on-site visit in Kuwait City to discuss the progress achieved in implementing the CRS, identify outstanding challenges and help prepare key stakeholders for the upcoming Assessment Team visit. Representatives from both the government and the private sector participated in a series of meetings to discuss Kuwait’s approach and practice to ensure the effective compliance of Financial Institutions with their CRS due diligence, reporting and record-keeping obligations. The Second Round of CRS effectiveness peer review started in 2023 for the jurisdictions that began automatic exchanges of financial account information in 2017 or 2018, and the results are due to be consolidated and published in 2026.

The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.

For more information, please contact gftaxcooperation@oecd.org.