In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on March 16, 2015
The Phase 2 review rates Curaçao as overall partially compliant with the international standard. Curaçao has an extensive exchange of information network of 87 jurisdictions. Following its Phase 1 review, Curaçao made significant improvements to its legal framework which now ensures the availability, access and exchange of information. However, the review finds that there is a lack of oversight and enforcement of this legal framework. There were also some impediments to accessing information regarding some entities, and some cases of interpretation issues of the standard which had a practical impact on the exchange of information. Finally, Curaçao experienced some difficulty in answering EOI requests in a timely manner due to a lack of dedicated resources to EOI and monitoring of internal deadlines. Curaçao had since started making improvements to prioritise organisational resources in the government which included establishing formal EOI processes to monitor and process incoming EOI requests. For further information on Curaçao’s exchange of information practices and to read the full report click here.