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 120 jurisdictions, which participate in the Global Forum on an

equal footing.

The Global Forum is charged with in-depth monitoring and peer review of the implementation

of the international 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. The

standards have also been incorporated into 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 and

Phase 2 - reviews. The Global Forum has also put in place a process for supplementary

reports to follow-up on recommendations, as well as for the ongoing monitoring of

jurisdictions following the conclusion of a review. The ultimate goal is to help jurisdictions

to effectively implement the international standards of transparency and exchange of

information for tax purposes.

All review reports are published once approved by the Global Forum and they thus represent

agreed Global Forum reports.

For more information on the work of the Global Forum on Transparency and Exchange of

Information for Tax Purposes, and for copies of the published review reports, please refer to

www.oecd.org/tax/transparency and www.eoi-tax.org.