Global Forum on Transparency and Exchange of Information for Tax Purposes

Peer Reviews

ISSN :
2219-469X (online)
ISSN :
2219-4681 (print)
DOI :
10.1787/2219469x
Hide / Show Abstract
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 100 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.

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, please visit www.oecd.org/tax/transparency.

Also available in: French
 
Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: South Africa 2013

Global Forum on Transparency and Exchange of Information for Tax Purposes Peer Reviews: South Africa 2013

Combined: Phase 1 + Phase 2, incorporating Phase 2 ratings You do not have access to this content

Click to Access: 
    http://oecd.metastore.ingenta.com/content/2313641e.pdf
  • PDF
  • http://www.keepeek.com/Digital-Asset-Management/oecd/taxation/global-forum-on-transparency-and-exchange-of-information-for-tax-purposes-peer-reviews-south-africa-2013_9789264205901-en
  • READ
Author(s):
OECD
Publication Date :
22 Nov 2013
Pages :
96
ISBN :
9789264205901 (PDF) ; 9789264205895 (print)
DOI :
10.1787/9789264205901-en

Hide / Show Abstract

This report includes revised Phase 1 and Phase 2 reviews of South Africa, now updated with ratings.

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.

Table of Contents

About the Global Forum 5
Executive Summary 7
Introduction 11
-Information and methodology used for the peer review of South Africa 11
-Overview of South Africa 12
-Recent developments 15
Compliance with the Standards 17
A. Availability of Information 17
-Overview 17
-A 1 Ownership and identity information 19
-A 2 Accounting records 41
-A 3 Banking information 47
B. Access to Information 51
-Overview 51
-B 1 Competent Authority’s ability to obtain and provide information 52
-B 2 Notification requirements and rights and safeguards 58
C. Exchanging Information 61
-Overview 61
-C 1 Exchange of information mechanisms 62
-C 2 Exchange of information mechanisms with all relevant partners 70
-C 3 Confidentiality 71
-C 4 Rights and safeguards of taxpayers and third parties 73
-C 5 Timeliness of responses to requests for information 74
Summary of Determinations and Factors Underlying Recommendations 81
Annex 1: Jurisdiction’s Response to the Review Report 85
Annex 2: List of Exchange-of-Information Mechanisms 86
Annex 3: List of All Laws, Regulations and Other Material Consulted 92
Annex 4: People Interviewed During On-Site Visit 94