OECD Global Forum issues phase I peer reviews for 8 countries

On September 2010, the OECD Global Forum on Exchange of Information for Tax Purposes and Transparency issued phase one peer reviews covering the legal and regulatory frameworks for transparency and exchange of tax information in Bermuda, Botswana, Cayman Islands,Jamaica, India, Monaco, Panama and Qatar.
The reports describe each jurisdiction’s rules for ensuring that information is available, how it can be accessed by competent authorities and the mechanisms in place to exchange the information with foreign tax authorities. The deficiencies identified commonly related to access to information including information on trusts, nominees and the need to maintain good accounting records. A second stage of the reviews, examining the eight countries’ exchange of information practices, will take place by 2012. The reports include recommendations on how these jurisdictions can improve their co-operation in international tax matters.
The OECD Global Forum now comprises more than 100 jurisdictions and observers. All these jurisdictions, as well as others identified by the Global Forum as relevant to its work, are participating in reviews of their systems for the international exchange of information in tax matters.

OECD publishes comments on future project on the transfer pricing aspects of intangibles

On 2010, the OECD invited stakeholders to comment on the scoping of a project on the trans¬fer pricing aspects of intangibles due to start in 2011. On 23 September, the OECD published the comments received on its website. These will be discussed by the OECD Working Party No.6 at its November 2010 meeting.