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07/02/2023 – The Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) participated in a seminar on the international standards on Transparency and Exchange of Information on Request (EOIR) and Automatic Exchange of Financial Account Information (AEOI) in Kuwait City from 22 to 26 January 2023.
Sixty-three officials from the Ministry of Finance of Kuwait, the Central Bank of Kuwait, the Capital Markets Authority, the Kuwait Direct Investment Promotion Agency, the Insurance Regulatory Unit and the Kuwait Financial Intelligence Unit participated in the five-day seminar, including a one-day session with participants from Kuwait’s financial industry.
The Secretariat presented the key requirements of the international transparency standards and detailed the Global Forum’s peer review methodology and process. The event helped participants understand the key concepts and requirements of the peer review process, in particular the Global Forum’s initial assessment of Kuwait’s effective implementation of the AEOI Standard as well as the outcomes of the Phase 1 EOIR peer review report and the peer review of the AEOI legal framework.
The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.
For more information, please contact gftaxcooperation@oecd.org.
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