Global Forum Compliance
The Global Forum on Transparency and Exchange of Information for Tax Purposes reviews and issues reports on compliance of its member tax jurisdictions. The Global Forum's peer review process examines both the legal and regulatory aspects of exchange (Phase 1 reviews) and the exchange of information in practice (Phase 2).
As of November 2011 the phase 1 or combined (phases 1&2) reviews of 59 jurisdictions are completed. The final phase 2 review is expected to be finalized in the first half of 2014.
Of the completed reviews the following jurisdictions aren't ready for phase 2: Antigua and Barbuda, Barbados, Brunei, Botswana, Liechtenstein, Panama, Seychelles, Switzerland, Trinidad and Tobago, Uruguay and Vanuatu.
Read more about this topic: FATF Blacklist
Famous quotes containing the words global, forum and/or compliance:
“Ours is a brand—new world of allatonceness. “Time” has ceased, “space” has vanished. We now live in a global village ... a simultaneous happening.”
—Marshall McLuhan (1911–1980)
“That age will be rich indeed when those relics which we call Classics, and the still older and more than classic but even less known Scriptures of the nations, shall have still further accumulated, when the Vaticans shall be filled with Vedas and Zendavestas and Bibles, with Homers and Dantes and Shakespeares, and all the centuries to come shall have successively deposited their trophies in the forum of the world. By such a pile we may hope to scale heaven at last.”
—Henry David Thoreau (1817–1862)
“In this our talking America, we are ruined by our good nature and listening on all sides. This compliance takes away the power of being greatly useful.”
—Ralph Waldo Emerson (1803–1882)