Global Forum on Transparency and Exchange of Information for Tax Purposes

14/05/2025 – The Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) visited the Seychelles to assist in its preparations for the Second-Round Effectiveness Peer Review under the Common Reporting Standard (CRS) for the Automatic Exchange of Financial Account Information.

From 12-14 May 2025, experts from the Secretariat conducted a mock on-site visit in Victoria, Seychelles to discuss progress, identify outstanding challenges, and help prepare key stakeholders for the upcoming review. Representatives from both the government and the private sector participated in a series of meetings to discuss the Seychelles’ 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 the CRS effectiveness peer review started in 2023 for the jurisdictions which commenced automatic exchanges of financial account information in 2017 or 2018. In line with the review timeline, the official on-site visit by the Assessment Team to the Seychelles is scheduled for July 2025. As part of its ongoing commitment to enhancing tax transparency and international co-operation, the Seychelles has been working closely with the Global Forum Secretariat to ensure it complies with the exchange of information standards.

With the financial support of the European Union, the Global Forum Secretariat has provided tailored assistance to help the Seychelles in its efforts to meet the necessary requirements of the international tax transparency standards. This includes in-depth guidance on legislative implementation, development and implementation of an administrative compliance strategy and compliance and enforcement actions, and all other critical components for a smooth and successful review. The upcoming official visit of the Assessment Team will be a key milestone in assessing the Seychelles’ progress in implementing the CRS effectively. The outcomes of the Second-Round Effectiveness Peer Reviews will be 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.