Cook Islands has a legal and regulatory framework in place that generally requires the availability of legal ownership, accounting and banking information, and ensures the exchange of relevant information for tax purposes in accordance with the standard. Since its previous peer review in 2015, Cook Islands has made improvements, notably in widening its network of EOI partners through the ratification and subsequent coming into force of the Convention on Mutual Administrative Assistance in Tax Matters (Multilateral Convention). However, some gaps were identified, notably regarding the availability of beneficial ownership information and identity information in respect to nominee shareholdings. Read the report

Ecuador has undergone its first review of the legal and regulatory framework. It was found broadly in line with the standard, with some improvements needed on the availability of beneficial ownership information and of accounting records in some specific circumstances. A new register of beneficial owners was introduced with the Organic Law for Economic Development and Fiscal Sustainability in November 2021. The register will be maintained by the tax administration and implementing regulations are currently awaited for it to be operational. Read the report

Finland has continued to expand its treaty network and has a well-established team and procedures in place to deal with the significant number of exchange of information requests from its partners in an effective and timely manner. It has introduced a central beneficial ownership register that will make this information readily available to the tax administration. Finland should work to address the deficiencies identified in its definition of beneficial ownership and should enhance its supervision activities to ensure the availability of adequate, accurate and up-to-date information. The overall rating of Finland’s implementation of the EOIR standard was slightly downgraded compared to its last peer review, from "Compliant" to "Largely Compliant", but remains satisfactory. Read the report

Pakistan has taken significant steps since its previous review in 2016 to ensure the availability of beneficial ownership information, in particular by establishing obligations on every company and limited liability partnership to maintain a register holding information on their beneficial owners. Pakistan also expanded its network of exchange relationships by becoming a party to the Multilateral Convention. The report highlights the need for further improvements, to ensure the availability of legal and beneficial ownership for legal entities and legal arrangements in all cases. Read the report

Poland has taken significant steps since its previous peer review in 2015, specifically by making it easier to identify the holders of bearer shares and ensuring that information identifying settlors, trustees and beneficiaries of foreign trusts with a Polish trustee is available. Further improvements are required to ensure complete identification of bearer shares holders as well as up-to-date legal and beneficial ownership information in specific circumstances. Read the report

Portugal made progress in all aspects of the EOIR standard since its previous review in 2015, and more particularly in respect to access and exchange of banking information, which now conforms to the standard, and on abolishing bearer shares. The Multilateral Convention is now in force, as well as a number of additional bilateral instruments, which greatly expands Portugal’s network of EOI partners. The main deficiencies identified concern the supervision mechanisms to ensure the availability of accurate and up-to-date information available on the central beneficial ownership register and in cases of remaining bearer shares that have not been converted. Portugal's overall rating was upgraded from “Largely Compliant” to “Compliant” since its last review, highlighting significant improvements. Read the report

Sint Maarten’s legal and regulatory framework generally ensures the availability, access and exchange of relevant information for tax purposes. However, the report identified some deficiencies that should be addressed, particularly in relation to the availability of information on the owners of bearer shares and on beneficial owners of companies, partnerships, trusts and private foundations. Improvements are also required on the availability of accounting information for entities that cease to exist, or domestic companies converted into foreign legal entities. Read the report

Sweden has a legal and regulatory framework in place that generally requires the availability of legal ownership, accounting and banking information, and ensures the exchange of relevant information for tax purposes in accordance with the standard. It has also successfully enacted rules to ensure the availability of beneficial ownership information. The most significant development since the last peer review in 2013 relates to the introduction of a public beneficial ownership register. Read the report