Global forum on transparency and exchange of information for tax purposes peer reviews
Subtitle: San Marino 2013. Phase 2, Implementation of the standard in practice
Contributors: Organisation for Economic Co-operation and Development
Series: Global Forum on Transparency and Exchange of Information for Tax Purposes peer reviews; Global Forum on Transparency and Exchange of Information for Tax Purposes peer reviews
Published: 2013
Language: eng
Number of pages: 119
ISBN-13: 9789264202771; 9789264202764
Subjects: International cooperation; Taxation; Law and legislation; Transparency in government; Tax administration and procedure
Other titles: San Marino 2013.; Peer review report.
Description: This report contains the "Phase 2: Implementation of the Standard in Practice" review for San Marino, as well as a revised version of the "Phase 1: Legal and Regulatory Framework review" already released for this jurisdiction. 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{u2019}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 {u2013} Phase 1 and Phase 2 {u2013} 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.
Notes: "November 2013 (reflecting the legal and regulatory framework as at May 2013)."

"This work is published on the responsibility of the Secretary-General of the OECD"--Title page verso.

OECD code: 23 2013 36 1 P.

Includes bibliographical references.

Online resource; title from PDF title page (ebrary, viewed February 12, 2014).
Table of contents: title: About the Global Forum 5 Executive Summary 7 Introduction 11 -Information and methodology used for the peer review of San Marino 11 -Overview of San Marino 13 -General information on legal system and the taxation system 14; title: Recent developments 18 Compliance with the Standards 19 A. Availability of Information 19 -Overview 19 -A 1 Ownership and identity information 21 -A 2 Accounting records 48 -A 3 Banking information 56 B. Access to Information 63 -Overview 63 -B 1 Competent Authority's ability to obtain and provide information 64 -B 2 Notification requirements and rights and safeguards 76 C. Exchanging Information 79 -Overview 79 -C 1 Exchange-of-information mechanisms 80 -C 2 Exchange-of-information mechanisms with all relevant partners 91 -C 3 Confidentiality 92 -C 4 Rights and safeguards of taxpayers and third parties 95 -C 5 Timeliness of responses to requests for information 96 Summary of Determinations and Factors Underlying Recommendations 103 Annex 1: Jurisdiction's Response to the Review Report 107 Annex 2: List of All Exchange-Of-Information Mechanisms 108 Annex 3: List of All Laws, Regulations and Other Material Received 110 Annex 4: Persons Interviewed During the Onsite Visit 113.