Note: Single-source report; awaiting corroboration.
The Organisation for Economic Co-operation and Development (OECD) plays a key role in establishing global standards to combat tax evasion and avoidance by enhancing tax transparency and information exchange among tax administrations.
In 2022, participating jurisdictions exchanged information on 123 million bank accounts with an estimated value of EUR 12 trillion, demonstrating broad cooperation under these standards.
The OECD has developed two main international standards: exchange of information on request (EOIR) and automatic exchange of financial account information (AEOI). The EOIR standard ensures that information relevant for tax purposes, including beneficial ownership of assets and accounts, is accessible to tax authorities and can be shared under international agreements.
The AEOI standard covers the Common Reporting Standard (CRS) and the Crypto-Asset Reporting Framework, requiring jurisdictions to collect due diligence and reporting data from financial institutions and crypto-asset service providers. This data is automatically exchanged annually with relevant tax authorities, based on the residence of account holders and crypto-asset users.
The global network supporting these efforts includes 150 jurisdictions participating in the Convention on Mutual Administrative Assistance in Tax Matters, encompassing all G20 and OECD countries, major financial centers, and a growing number of developing countries. The Convention requires parties to agree on the scope and procedures for automatic exchanges.
Additional agreements such as the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (CbC MCAA) facilitate the automatic exchange of corporate tax information, promoting transparency at the country level.