January 27, 2011 / 7:47 PM / 7 years ago

Barbados, San Marino, others still not tax transparent

PARIS, Jan 27 (Reuters) - Measures on tax transparency in Barbados, the Seychelles, San Marino and Trinidad and Tobago still do not meet international standards, according to reports published by an international watchdog on Thursday.

The Global Forum on Transparency and Exchange of Information for Tax Purposes, hosted by the OECD, was mandated by the Group of 20 to assess the status of national tax laws as part of its international crackdown on money laundering and tax havens.

In studies of 10 countries released on Thursday, it found that Barbados, the Seychelles, San Marino and Trinidad and Tobago did not have legislation in place to fully share information on tax matters with international partners.

The reports found that Guernsey had put in place most of the legal and regulatory framework required and was starting bilateral cooperation with other countries.

Mauritius had also revised its legal and regulatory framework to allow regulators broad access to information, but another review would be conducted in six months to see if authorities were sharing information effectively.

Australia, Denmark, Ireland and Norway all had effective legal and institutional frameworks in place, the reports found. (Editing by Kenneth Barry)

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