The Phase 2 review rates Aruba as overall largely compliant with the international standard of transparency and exchange of information for tax purposes. To a large extent, Aruba’s legal framework and its practical implementation ensure that ownership, accounting and bank information is available according to the standard. However, the report notes there is a lack of a regular system of oversight regarding the requirements to keep and file ownership. Aruba has limited experience with exchange of information and experienced some delays while responding to requests during the period under review. Aruba should report the steps taken to address the recommendations made in the Phase 2 report within 12 months. For further information on the exchange of information practice of Aruba and to read the full report click here.