The Organisation for Economic Cooperation and Development (OECD) today reported at a global forum on tax transparency, that both developing and developed countries continue to face challenges as work progresses to address global tax transparency, banking secrecy, and tax evasion. Part of the international efforts on tax transparency include actions under the base erosion and profit shifting (BEPS) project.
As noted in today’s OECD release, some jurisdictions have not made sufficient progress toward a satisfactory level of implementation of the agreed international standards. The OECD has prepared a list of non-cooperative jurisdictions for a meeting of the leaders of the G20 countries scheduled for July 2017. To avoid being included on the list, jurisdictions need to meet at least two of the three benchmarks to avoid inclusion:
The OECD announced that 15 jurisdictions that previously had a less-than-satisfactory rating on their peer reviews against the EOIR standard, were evaluated to assess whether recent progress would upgrade their rating if they were to be reviewed again. Following the evaluation, the Global Forum assigned the following provisional ratings:
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