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The Minister for Finance, Mr. Michael Noonan TD, today welcomed the publication of new compliance ratings for 50 countries on the practical implementation of the Global Forum’s tax information exchange standard. Ireland was one of only eighteen countries to receive the top rating of “compliant”.

Welcoming the report the Minister stated: “the results of this comprehensive analysis of how countries exchange tax information with each other, confirm that we meet the highest international standards. The report confirms, following a forensic peer review, that the Irish system for the exchange of tax information is as good as anywhere in the world, and better than most”

ENDS

The Global Forum’s Report can be found via these links

http://www.oecd.org/tax/global-forum-moves-towards-automatic-exchange-of-tax-information-and-transparency.htm

http://www.oecd.org/tax/transparency/ratings%20for%20press%20conference_without%2014.pdf

Note for Editors

The Global Forum brings together 121 countries and jurisdictions for wide-ranging discussions on tax transparency and exchange of information. Its sixth meeting attracted more than 200 delegates from 86 member jurisdictions and 11 international organisations. During the Jakarta meeting, six new countries became members: Azerbaijan, Dominican Republic, Lesotho, Romania, Senegal and Ukraine.

Working through a peer review process, the Forum assesses the adequacy of its members’ legal and regulatory framework for exchange of information in tax matters (Phase 1 review) as well as the application of this framework (Phase 2 review). To date, 124 peer reviews have been completed, including 50 Phase 2 reviews. Ireland is one of those 50 countries