Global forum on transparency and exchange of information for tax purposes : Nauru 2019 (second round) : peer review report on the exchange of information on request

This report contains the 2019 Peer Review Report on the Exchange of Information on Request of Nauru. Table of contents Reader’s guide Abbreviations and acronyms Executive summary Overview of the Republic of Nauru Part A: Availability of information A.1. Legal and beneficial ownership and identity information A.2. Accounting records A.3. Banking information Part B: Access to information B.1. Competent authority’s ability to obtain and provide information B.2. Notification requirements, rights and safeguards Part C: Exchanging information C.1. Exchange of information mechanisms C.2. Exchange of information mechanisms with all relevant partners C.3. Confidentiality C.4. Rights and safeguards of taxpayers and third parties C.5. Requesting and providing information in an effective manner Annex 1: List of in-text recommendations Annex 2: List of Nauru’s EOI mechanisms Annex 3: Methodology for the review Annex 4: Nauru’s response to the review report This report analyses the implementation of the standard of transparency and exchange of information on request (EOIR standard) in Nauru on the second round of reviews conducted by the Global Forum against the 2016 Terms of Reference. It assesses both the legal and regulatory framework as at 3 May 2019 and the practical implementation of this framework, in particular in respect of EOI requests received and sent during the period from 1 January 2015 to 31 December 2017. This report concludes that Nauru is rated overall Largely Compliant with the international standard. This report is reflecting the legal and regulatory framework as at May 2019