Lebanon Was Just Rated “Largely Compliant” on Transparency and Exchange of Information for Tax Purposes

A Report by The OECD Global Forum summarizing improvements and areas still needing monitoring.

The Global Forum on Transparency and Exchange of Information for Tax Purposes published, on July 30, nine peer review reports assessing compliance with the international standard on transparency and exchange of information on request (EOIR). And, Lebanon was positively rated.

The reports are part of the second round of Global Forum reviews evaluating compliance with the international standard on transparency and exchange of information on request.

Costa Rica, Croatia, Lebanon, Malaysia, and the Federated States of Micronesia, and Nauru received an overall rating of Largely Compliant, Botswana and Vanuatu were rated Partially Compliant, and Guatemala was rated Non-Compliant.And in the report that contains the 2019 Peer Review Report on the Exchange of Information on Request of Lebanon, it was stated that: “The Global Forum rated Lebanon overall Largely Compliant with the international standard of transparency and exchange of information on requests handled over the period from 1 January 2015 to 31 December 2017.Lebanon has made good progress in addressing the deficiencies identified in its previous report published in 2016, most importantly with regard to the bearer shares and absence of access to, and exchange of, banking information. Lebanon should still ensure that existing bearer shares are transferred to the State.

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