The Minister for Finance, Mr. Brian Lenihan TD, welcomes the publication of the peer review report of Ireland by the Global Forum on Transparency and Exchange of Information for Tax Purposes.
The report reviews, under a number of different headings, the legal framework and mechanisms in place in Ireland to ensure effective international cooperation in tax matters.
The report finds that under all headings reviewed the elements are in place for effective exchange of information in Ireland. This finding underpins Ireland as a transparent jurisdiction for tax purposes.
The report does contain a number of recommendations. For example, the report recommends that Ireland brings its signed Double Taxation Agreements and Tax Information Exchange Agreements into force as quickly as possible. Significant progress in this regard is being made in this year’s Finance Bill. Another recommendation is that Ireland should continue to expand its Double Taxation Agreement network. This is being done.
The Minister for Finance thanks the assessment team for the comprehensive report that they have produced and the member jurisdictions of the Global Forum for their input into the production of the report.
27th January, 2011
More Information available at:
Global Forum on Transparency and Exchange of Information for Tax Purposes
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