Phase 1 reports on Kazakhstan and Morocco assessed their legal and regulatory framework for transparency and exchange of information. Morocco moves to the next stage of the review process which will assess exchange of information practices during the second quarter of 2015. Kazakhstan is blocked from moving to Phase 2 of its review process due to significant gaps in its legal framework. Elements which are crucial to achieving effective exchange of information are not yet in place in Kazakhstan.
The Global Forum also reviewed exchange of information practices through a Phase 2 peer review reports in the Czech Republic. It allocated ratings for compliance with the individual elements of the international standard, as well as an overall rating and the Czech Republic received an overall rating of "Largely Compliant.”
The Global Forum has now completed 186 peer reviews and assigned compliance ratings to 78 jurisdictions that have undergone Phase 2 reviews. Twenty jurisdictions are rated "Compliant”, 44 are rated "Largely Compliant”, 10 are rated "Partially Compliant” and 4 jurisdictions are rated as "Non-Compliant.” There are still 12 jurisdictions which remain blocked from moving to a Phase 2 review, due to insufficiencies in the legal and regulatory framework.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.