Global Forum on Transparency and Exchange of Information for Tax Purposes

Peer Reviews

English
ISSN: 
2219-469X (online)
ISSN: 
2219-4681 (print)
http://dx.doi.org/10.1787/2219469x
Hide / Show Abstract

The Global Forum on Transparency and Exchange of Information for Tax Purposes is a multilateral framework for tax transparency and information sharing, within which over 140 jurisdictions participate on an equal footing.

The Global Forum monitors and peer reviews the implementation of international standard of exchange of information on request (EOIR) and automatic exchange of information. The EOIR provides for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. All Global Forum members have agreed to have their implementation of the EOIR standard be assessed by peer review. In addition, non-members that are relevant to the Global Forum’s work are also subject to review. The legal and regulatory framework of each jurisdiction is assessed as is the implementation of the EOIR framework in practice. The final result is a rating for each of the essential elements and an overall rating.

The first round of reviews was conducted from 2010 to 2016. The Global Forum has agreed that all members and relevant non-members should be subject to a second round of review starting in 2016, to ensure continued compliance with and implementation of the EOIR standard. Whereas the first round of reviews was generally conducted as separate reviews for Phase 1 (review of the legal framework) and Phase 2 (review of EOIR in practice), the EOIR reviews commencing in 2016 combine both Phase 1 and Phase 2 aspects into one review. Final review reports are published and reviewed jurisdictions are expected to follow up on any recommendations made. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.

For more information on the work of the Global Forum on Transparency and Exchange of Information for Tax Purposes, please visit www.oecd.org/tax/transparency.

Also available in French
 
Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Hungary 2015

Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: Hungary 2015

Phase 2: Implementation of the Standard in Practice You do not have access to this content

English
Click to Access: 
    http://oecd.metastore.ingenta.com/content/2315081e.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/taxation/global-forum-on-transparency-and-exchange-of-information-for-tax-purposes-peer-reviews-hungary-2015_9789264231498-en
  • READ
Author(s):
OECD
16 Mar 2015
Pages:
148
ISBN:
9789264231498 (PDF) ;9789264231481(print)
http://dx.doi.org/10.1787/9789264231498-en

Hide / Show Abstract

This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of Hungary.

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.

loader image

Table of Contents

About the Global Forum 5
Executive Summary 7
Introduction 11
-Information and methodology used for the peer review of Hungary 11
-Overview of Hungary 12
-Recent developments 18
Compliance with the Standards 21
A. Availability of Information 21
-Overview 21
-A.1 Ownership and identity information 23
-A.2 Accounting records 60
-A.3 Banking information 67
B. Access to Information 71
-Overview 71
-B.1 Competent Authority’s ability to obtain and provide information 72
-B.2 Notification requirements and rights and safeguards  87
C. Exchanging Information 91
-Overview 91
-C.1 Exchange of information mechanisms 92
-C.2 Exchange of information mechanisms with all relevant partners 101
-C.3 Confidentiality 103
-C.4 Rights and safeguards of taxpayers and third parties 108
-C.5 Timeliness of responses to requests for information 110
Summary of Determinations and Factors Underlying Recommendations 123
Annex 1: Jurisdiction’s response to the review report 129
Annex 2: List of Hungary’s exchange-of-information mechanisms 130
Annex 3: List of all laws, regulations and other material received 141
Annex 4: People interviewed during the on-site visit  143

 
Visit the OECD web site