Global Forum on Transparency and Exchange of Information

The Global Forum aims to ensure the implementation of the internationally agreed Standards of transparency and exchange of information in the tax area in member jurisdictions. The original members of the Global Forum consisted of OECD countries and jurisdictions, having the objective of implementing the transparency and exchange of information for tax purposes. In 2009 in response to the G20 call to strengthen implementation of these standards. It was agreed to restructure the Global Forum to a consensus-based organization, where all the members would participate on an equal footing. As a result, along with all the OECD member countries the non-member jurisdictions were also invited to participate in it.

The Global Forum ensures fast implementation of the Transparency and exchange of information through in-depth peer reviews of the relevant jurisdictions.

As of now The Global Forum now has more than 171 members, among them all the G20 and OECD member States.

Detailed information on Global Forum members is available under the following link:

http://www.oecd.org/tax/transparency/about-the-global-forum/members/

Georgia and the Global Forum

On April 11, 2011, Georgia became a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Since 2014, Georgia, along with 29 other countries, has been an elected member of the Global Forum Peer Review Group (PRG). The group works to enhance international standards for tax transparency and exchange of information, and to assess the legislation and practices of both member and non-member countries of the Global Forum.

In 2024, Georgia was elected as a member of the Peer Review and Monitoring Group (PRMG) for a two-year term. This group is responsible for monitoring the implementation of international tax transparency standards.



Review of Georgia in accordance with the international standard of the Exchange of Information on Request (EOIR)

On March 27, 2024, the Global Forum on Transparency and Exchange of Information for Tax Purposes published a report on the assessment of Georgia with a rating of “largely compliant”.

The assessment process of Georgia, as part of the Global Forum’s second round of peer review assessment, was launched by the OECD on March 10, 2023. Following the evaluation of a three-year period, it was concluded that Georgia’s legislation and practices in the field of tax transparency and exchange of information comply with international standards. It is noteworthy that the assessment was based on 10 elements:

• A.1: Availability of ownership and identity information
• A.2: Availability of accounting information
• A.3: Availability of banking information
• B.1: Access to information
• B.2: Rights and Safeguards
• C.1: EOIR mechanisms
• C.2: Network of EOIR mechanisms
• C.3: Confidentiality
• C.4: Rights and safeguards
• C.5: Quality and timeliness of responses

Georgia received the highest rating of “compliant” in 8 out of 10 elements.

The Global Forum on Transparency and Exchange of Information for Tax Purposes began its work in 2009 to assess jurisdictions’ compliance with the international EOIR standard. The first round of assessments was conducted using the 2010 methodology.

The full assessment report on Georgia’s Exchange of Information upon Request is available on the OECD website at the following link:

http://www.oecd.org/content/dam/oecd/en/publications/reports/2024/03/global-forum-on-transparency-and-exchange-of-information-for-tax-purposes-georgia-2024-second-round_70ea4512/40424254-en.pdf