| In order to strengthen the implementation of the international standard and principle of tax transparency and information exchange, the restructured Global Forum on Transparency and Exchange of Information for Tax Purposes established a new mechanism of peer review and implemented its procedures. Under the peer review mechanism, more in-depth monitoring was conducted than ever on the legal frameworks and practices for information exchange of all member states of the Global Forum to see whether they accorded with the international standard.The peer review carried out by far reveals preliminarily different problems at the national level and common problems at the international level. It is found that foreign trust, bearer share and nominal shareholder are the three common problems on which many countries have some defects in the transparency of information. The on-going peer review procedures will give great pressure on countries and encourage them to perform their respective obligations and achieve international tax coordination and cooperation effectively. Under the procedures, of course, countries still need to negotiate and communicate with each other constantly, so that the tax sovereignty and national interests of each country can be fully balanced and coordinated.The domestic legislation and supporting measures of China, as a whole, are consistent with the requirements posed by the international standard and principle of tax transparency and information exchange. With regards to the common problems at the international level, however, further improvements should be achieved by China to actively fulfill its responsibility in the international tax administrative cooperation. |
京公网安备11010102006664号 京ICP备2023015853号