European Parliament Library

Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Uruguay 2015, Phase 2: Implementation of the Standard in Practice, Organisation for Economic Co-operation and Development

Abstract
This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Uruguay. 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
Table Of Contents
About the Global Forum 5 Executive Summary 7 Introduction 11 -Information and methodology used for the peer review of Uruguay 11 -Overview of Uruguay 13 -Recent developments 18 Compliance with the Standards 19 A. Availability of Information19 -Overview 19 -A.1. Ownership and identity information 23 -A.2. Accounting records 64 -A.3. Banking information 73 B. Access to Information 79 -Overview 79 -B.1. Competent Authority’s ability to obtain and provide information 81 -B.2. Notification requirements and rights and safeguards 93 C. Exchanging Information 101 -Overview 101 -C.1. Exchange-of-information mechanisms 103 -C.2. Exchange of information mechanisms with all relevant partners 115 -C.3. Confidentiality 117 -C.4. Rights and safeguards of taxpayers and third parties 121 -C.5. Timeliness of responses to requests for information 123 Summary of Determinations and Factors Underlying Recommendations 131 Annex 1: Jurisdiction’s response to the review report 137 Annex 2: List of all exchange of information mechanisms 138 Annex 3: List of all laws, regulations and other material received 140 Annex 4: Persons interviewed during on-site visit 142
Language
eng
Literary Form
non fiction
Physical Description
1 online resource (144 p. )
Specific Material Designation
remote
Form Of Item
online
Isbn
9780926423169

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