The [Global Forum ](http://www.oecd.org/tax/transparency)on Transparency and Exchange of Information for Tax purposes today released ten reports which evaluate jurisdictions’ commitment to tax transparency and examine whether information is made available and accessible to foreign tax authorities. Previously in September 2010, the Forum had released [eight](http://www.oecd.org/document/51/0,3746,en_2649_33767_46107214_1_1_1_1,00.html) such reports.
The Global Forum has been mandated by the G-20 to assist specific jurisdictions, as well as the international community, to assess the status of national tax legislation, examine whether the laws are enforced, and make recommendations for improvement.
For five jurisdictions the Global Forum is releasing Phase 1 reports which assess the legal and regulatory framework of the jurisdictions. The other five combine Phase 1 and Phase 2 reviews, assessing both the legal framework and the practical implementation of the standard.
A release from the OECD says:
##Phase 1 reviews##
Four jurisdictions, [Barbados](http://www.oecd.org/document/51/0,3746,en_2649_33767_46894081_1_1_1_1,00.html), the [Seychelles](http://www.oecd.org/document/51/0,3746,en_2649_33767_46893967_1_1_1_1,00.html), [San Marino](http://www.oecd.org/document/51/0,3746,en_2649_33767_46975405_1_1_1_1,00.html) and [Trinidad and Tobago ](http://www.oecd.org/document/51/0,3746,en_2649_33767_46893943_1_1_1_1,00.html)fall short of the international standard and will need to implement the recommendations made in their reports before moving to the next phase of their evaluations. It has been noted in the case of San Marino that important legislation has recently been passed (see annex 1 of the report) and will further be examined by the Global Forum.
The report on [Guernsey](http://www.oecd.org/document/51/0,3746,en_2649_33767_46894058_1_1_1_1,00.html) shows that a satisfactory legal framework is in place but that there are minor issues that Guernsey has been asked to address.
**Combined reviews**
[Mauritius](http://www.oecd.org/document/51/0,3746,en_2649_33767_46894001_1_1_1_1,00.html) underwent a combined review which showed that there are missing elements in the legal framework such as accounting information on some of the offshore companies. The assessment of the practice in Mauritius shows that there is room for improvement, in particular as regards the access to bank information by the tax authorities.
The four other “combined” reviews show that the systems in place in [Australia](http://www.oecd.org/document/51/0,3746,en_2649_33767_46894099_1_1_1_1,00.html), [Denmark](http://www.oecd.org/document/51/0,3746,en_2649_33767_46894070_1_1_1_1,00.html), [Ireland](http://www.oecd.org/document/51/0,3746,en_2649_33767_46894031_1_1_1_1,00.html) and [Norway](http://www.oecd.org/document/51/0,3746,en_2649_33767_46893978_1_1_1_1,00.html) have achieved effective exchange of information in practice. However, there are some minor issues related to information on bearer shares or nominees which will have to be addressed.
The Forum plans to complete 60 more reports by year end 2011.