Global Forum on Transparency and Exchange of Information for Tax Purposes: Curaçao 2017 (Second Round)
Peer Review Report on the Exchange of Information on Request
In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on November 17, 2017
SUMMARY OF THE REPORT
Curaçao received an overall rating of Partially compliant with the international standard of exchange of information on request (EOIR) for the transparency of its entities and its EOI practice over the period 1 January 2014 until 30 June 2016 (two and a half years due to the request for an advanced assessment review). Its rating was already Partially Compliant in the previous period reviewed (2011-2013). Although Curaçao has addressed some recommendations, notably regarding the striking off of dormant companies, serious deficiencies remained in respect of availability of ownership information, access to information and EOI practice. Curaçao’s EOI practice worsened during the period, with EOI requests from its EOI partners not being responded to in a timely manner, but it improved at the end of the review period. Curaçao must also improve the oversight and enforcement mechanisms that are currently insufficient to ensure the availability of ownership and accounting information in all cases. Finally, the Curaçao authorities must ensure that in practice they can get access to information effectively and in a timely manner in all cases, including on information pertaining to international offshore companies.