Standard for Automatic Exchange of Financial Account Information in Tax Matters
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Standard for Automatic Exchange of Financial Account Information in Tax Matters

The Standard for Automatic Exchange of Financial Account Information, developed by the OECD with G20 countries, represents the international consensus on automatic exchange of financial account information for tax purposes, on a reciprocal basis. Over 60 jurisdictions have committed to implementing the Standard and all financial centres have been called to match those commitments, as of July 2014.

This publication is the first edition of the full version of the Standard for Automatic Exchange of Financial Account Information. It contains the text of the Model Competent Authority Agreement and the Common Reporting Standard, and the Commentaries thereon, as they read on 15 July 2014. It also includes multilateral and nonreciprocal versions of the Model Competent Authority Agreement, the technical modalities and a wider approach to the Common Reporting Standard.

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Author(s):
OECD

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A legal framework must ensure the confidentiality of exchanged tax information and limit its use to appropriate purposes. The two basic components of such a framework are the terms of the applicable treaty, TIEA or other bilateral agreement for the exchange of information, and a jurisdiction’s domestic legislation.

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