The work on BEPS Action 14 continues with today's publication of the ninth round of stage 1 peer review reports. Each report assesses a country's efforts to implement the Action 14 minimum standard as agreed to under the OECD/G20 BEPS Project.
The OECD is now gathering input for the Stage 1 peer reviews of Andorra, Anguilla, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Faroe Islands, Macau (China), Morocco and Tunisia, and invites taxpayers to submit input on specific MAP-related issues by 12 August 2019.
The Inclusive Framework on BEPS welcomes the Faroe Islands and Greenland bringing to 127 the total number of countries and jurisdictions participating on an equal footing in the Project.
Bilateral Agreements that have been signed to establish exchange of information for tax purposes.
Uruguay has signed 7 new agreements providing for the exchange of tax information, showing its willingness to implement the global standards.
The NORA region is a transnational area comprising the Faroe Islands, Greenland, Iceland and coastal Norway. This review recommends strengthening co-operation across the region to improve accessibility, diversify the economic base, and ensure sustainable development of fisheries.
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Agreement between the Faroes and Monaco for the exchange of information relating to tax matters
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Agreement between the Faroe Islands and Antigua & Barbuda for the exchange of information relating to tax matters