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The Exchange of Tax Information Portal is an initiative of the Global Forum on Transparency and Exchange of Information for Tax Purposes. The Global Forum conducts peer reviews of its member jurisdictions' ability to co-operate with other tax administrations in accordance with the internationally agreed standard. The standard provides for exchange of information on request where it is foreseeably relevant to the administration and enforcement of the domestic tax laws of the requesting jurisdiction. Effective exchange of information requires that jurisdictions ensure information is available, that it can be obtained by the tax authorities and that there are mechanisms in place allowing for the exchange of that information. The Global Forum's peer review process examines both the legal and regulatory aspects of exchange (Phase 1 reviews) and the exchange of information in practice (Phase 2). The EOI Portal will track the development of these peer reviews, including changes that jurisdictions make in response to the Global Forum's recommendations.

Peer Review: Niue Supplementary Report

This report for Niue has been published on 4 Aug 2014. You can buy this report, or browse it online below.

Skip directly to the Executive Summary. You may also want to view the tables of determinations and ratings.


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Determinations and Recommendations

Jurisdictions should ensure that ownership and identity information for all relevant entities and arrangements is available to their competent authorities. (ToR A.1)
Determination Factors Recommendations
The element is in place, but certain aspects of the legal implementation of the element need improvement.   Identity and ownership information may not consistently be available in respect of (i) domestic trusts and (ii) foreign trusts with a Niuean trustee.  Niue should ensure the availability of ownership and identity information in respect of settlors and beneficiaries of domestic and foreign trusts in all cases. 
Phase 2 Rating Factors Recommendations
     
Jurisdictions should ensure that reliable accounting records are kept for all relevant entities and arrangements. (ToR A.2)
Determination Factors Recommendations
The element is in place, but certain aspects of the legal implementation of the element need improvement.   Niuean law does not ensure that reliable accounting records and underlying documentation are kept under certain circumstances for all (i) limited liability partnerships and special partnerships that do not carry on a business in Niue, do not have Niuean partners and do not receive Niuean sourced income; and (ii) trusts which are administered in Niue or in respect of which a trustee is resident in Niue in all circumstances.  Niue should establish obligations for the maintenance of reliable accounting records, including underlying documentation, for all (i) limited liability partnerships and special partnerships that do not carry on a business in Niue, do not have Niuean partners and do not receive Niuean sourced income; and (ii) trusts which are administered in Niue or in respect of which a trustee is resident in Niue in all circumstances.  
Entities and arrangements other than domestic companies are not required to retain accounting records and underlying documentation for a minimum 5 year period except when they carry on a business in Niue or receive Niuean sourced income.  Niue should ensure that its laws require that accounting records and underlying documentation are kept for all relevant entities and arrangements for a minimum of 5 years. 
Phase 2 Rating Factors Recommendations
     
Banking information should be available for all account-holders. (ToR A.3)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
     
Competent authorities should have the power to obtain and provide information that is the subject of a request under an exchange of information arrangement from any person within their territorial jurisdiction who is in possession or control of such information (irrespective of any legal obligation on such person to maintain the secrecy of the information). (ToR B.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
     
The rights and safeguards (e.g. notification, appeal rights) that apply to persons in the requested jurisdiction should be compatible with effective exchange of information. (ToR B.2)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
     
Exchange of information mechanisms should provide for effective exchange of information. (ToR C.1)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
     
The jurisdictions' network of information exchange mechanisms should cover all relevant partners. (ToR C.2)
Determination Factors Recommendations
The element is in place, but certain aspects of the legal implementation of the element need improvement.   Niue has entered into exchange of information agreements with a number of jurisdictions. However, its exchange of information network does not currently cover a jurisdiction which has indicated that it would like to enter into such a relationship with Niue.   Niue should continue to develop its exchange of information network with all relevant partners. 
Phase 2 Rating Factors Recommendations
     
The jurisdictions' mechanisms for exchange of information should have adequate provisions to ensure the confidentiality of information received. (ToR C.3)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
     
The exchange of information mechanisms should respect the rights and safeguards of taxpayers and third parties. (ToR C.4)
Determination Factors Recommendations
The element is in place.      
Phase 2 Rating Factors Recommendations
     
The jurisdiction should provide information under its network of agreements in a timely manner. (ToR C.5)
Determination Factors Recommendations
The assessment team is not in a position to evaluate whether this element is in place, as it involves issues of practice that are dealt with in the Phase 2 review.      
Phase 2 Rating Factors Recommendations