Two Island Nations Mostly Comply With Tax Info Exchange Rules

Seychelles, along with Antigua and Barbuda, were found to be largely compliant with the OECD’s standards on tax transparency and exchange of information on request, according to in-depth peer reviews published Wednesday.

Despite Organization for Economic Cooperation and Development peers finding both of their frameworks in force, both Seychelles and Antigua and Barbuda were found lacking in their requirements for businesses to maintain accounting records and underlying documentation in line with the standard.

The OECD standard requires that information relevant for tax purposes, including details of legal and beneficial owners of assets, companies and accounts, should be available and ...