Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Montserrat 2014 : Phase 2: Implementation of the Standard in Practice

Organisation for Economic Co-operation and Development.

DOI 10.1787/9789264217768-en, ISBN 9789264217768(PDF)

Organisation for Economic Co-operation and Development (Utgivare)

utgivning

Paris : : OECD Publishing, 2014

1 online resource (92 pages)

Seriemedlemskap

Global Forum on Transparency and Exchange of Information for Tax Purposes · ISSN 2219469X, ISSN 2219469X · Global Forum on Transparency and Exchange of Information for Tax Purposes

Organisation for Economic Co-operation and Development

Onlineresurs

Digital resurs · 5 bibliotek

kategori

Övernationell (t.ex. EU), Internationell, Ej skönlitteratur

ämne

Taxation--Law and legislation., Montserrat

Fler detaljer Referera

Sammanfattning

This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Montserrat. The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by over 120 jurisdictions which participate in the work of the Global Forum on an equal footing. The Global Forum is charged with in-depth monitoring and peer review of the implementation of the standards of transparency and exchange of information for tax purposes. These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commentary as updated in 2004, which has been incorporated in the UN Model Tax Convention. The standards provide for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. “Fishing expeditions” are not authorised, but all foreseeably relevant information must be provided, including bank information and information held by fiduciaries, regardless of the existence of a domestic tax interest or the application of a dual criminality standard. All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are being reviewed. This process is undertaken in two phases. Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework. Some Global Forum members are undergoing combined – Phase 1 plus Phase 2 – reviews. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.

Innehållsförteckning

About the Global Forum 5 Executive Summary 7 Introduction 9 -Information and methodology used for the peer review of Montserrat 9 -Overview of Montserrat 10 -Recent developments 13 Compliance with the Standards 15 A. Availability of Information 15 -Overview15 -A1. Ownership and identity information 16 -A2. Accounting records 39 -A3. Banking information 44 B. Access to Information 47 -Overview 47 -B1 Competent Authority’s ability to obtain and provide information 48 -B2 Notification requirements and rights and safeguards 56 C. Exchanging Information 59 -Overview 59 -C1. Exchange of information mechanisms 60 -C2. Exchange of information mechanisms with all relevant partners 67 -C3. Confidentiality 68 -C4. Rights and safeguards of taxpayers and third parties 72 -C5. Timeliness of responses to requests for information 73 Summary of Determinations and Factors Underlying Recommendations 77 Annex 1. Jurisdiction’s response to the review report  81 Annex 2. List of Montserrat exchange of information mechanisms 82 Annex 3. List of laws, regulations and other material 87 Annex 4. List of persons interviewed during on-site visit 88

Detaljer

Medverkan och funktion

Organisation for Economic Co-operation and Development.

klassifikation

343.04 (DDK-klassifikation)

Medverkan och funktion

Organisation for Economic Co-operation and Development (Utgivare)

Identifikator

DOI 10.1787/9789264217768-en, ISBN 9789264217768(PDF)

har titel

Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Montserrat 2014 : Phase 2: Implementation of the Standard in Practice