Global Forum On Transparency And Exchange Of Information For Tax Purposes Peer Reviews Turks And Caicos Islands 2011 Phase 1 Legal And Regulatory Framework

Author : Global Forum on Transparency and Exchange of Information for Tax Purposes
Publisher :
ISBN 13 : 9780119208054
Total Pages : 65 pages
Book Rating : 4.2/5 (8 download)

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Download or read book Turks and Caicos Islands 2011 written by Global Forum on Transparency and Exchange of Information for Tax Purposes and published by . This book was released on 2011-09-20 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 90 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. 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. This report is the Phase 1 review for Jamaica