1. Monitoring the implementation of the AEOI Standard

As mentioned in the Executive summary of this report, and in response to a request by the G20, the Global Forum monitors the implementation of the AEOI Standard. This started with the Global Forum putting in place a commitment process to facilitate the widespread application of the AEOI Standard based on a level playing field.

While the OECD developed the AEOI Standard in 2014, working with G20 countries, the Global Forum recognised that, together with its existing standard of exchange of information on request (EOIR), it would offer tax authorities with a powerful tool to advance tax transparency and the exchange of information for tax purposes. The Global Forum was therefore quick to put in place a process to promote the global implementation of the AEOI Standard, through collective commitments to agreed timelines. All Global Forum members, except for developing countries that did not host a financial centre, were subsequently asked to commit to:

  • implementing the AEOI Standard;

  • exchanging information with all Interested Appropriate Partners (all jurisdictions interested in receiving information from a jurisdiction and that meet the expected standards in relation to confidentiality and data safeguards); and

  • commencing exchanges in 2017 or 2018.

This resulted in a group of 49 “early adopter” jurisdictions committing to exchanging information in 2017 and a further 51 jurisdictions committing to commencing exchanges in 2018.

Further jurisdictions have subsequently committed to implementing the AEOI Standard to specific timelines. These include: (i) four jurisdictions that have been identified through the Global Forum’s “jurisdiction of relevance” process, established to maintain a level playing field with respect to the AEOI Standard; and (ii) nine developing countries not asked to commit to the AEOI Standard to a specific timeline, but that wish to access the benefits of the AEOI Standard.

Further details on the specific commitments made are contained in the tables 1.1 to 1.3 below.

Once a jurisdiction commits to implementing the AEOI Standard, the Global Forum monitors the timeliness of delivery for each milestone necessary to deliver the commitment. The key milestones require putting in place:

  • a domestic legislative framework to require Financial Institutions to collect and report the information for exchange, which should be in place to require the collection of the information in the year prior to its reporting and exchange;

  • an international legal framework allowing the exchange of information with the jurisdiction’s Interested Appropriate Partners in the year of exchange, comprising of an international legal basis to exchange information automatically and a competent authority agreement containing the details of the exchanges (the vast majority of exchanges take place using the multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention) and the CRS Multilateral Competent Authority Agreement (the CRS MCAA)1); and

  • a suitable technical infrastructure to receive the information from Financial Institutions, to process it as necessary and to transmit it to a jurisdiction’s exchange partners (all jurisdictions use the Common Transmission System (CTS), developed and procured by the OECD and managed by the Global Forum).

Further details on the jurisdictions’ timeliness in meeting these milestones are contained in the tables 1.2 to 1.3 below.

Table 1.1 presents details of the exchanges that took place in 2018 and 2019. It shows that the overwhelming majority of jurisdictions put in place the necessary legal and technical requirements and successfully commenced exchanges, in accordance with their commitments. Details of the 2020 exchanges are not yet available as the Global Forum extended the deadline to carry out exchanges from September 2020 to the end of December 2020, in response to the COVID-19 pandemic.

94% of the jurisdictions delivered on their commitment to exchange in 2019.  

Notwithstanding the highly significant successes reflected in Table 1.1, some jurisdictions have not delivered on their commitments to commencing exchanges. A fully effective AEOI Standard requires a level playing field. The Global Forum therefore continues to work closely with these jurisdictions to support them in delivering on their commitments.

Table 1.2 shows the jurisdictions that are late in putting in place the necessary legal frameworks to implement the AEOI Standard, namely Sint Maarten and Trinidad and Tobago.

Table 1.3 shows the jurisdictions that have in place the legal frameworks to implement the AEOI Standard but that have not put in place the technical requirements for exchange, namely Dominica and Niue.

The COVID-19 pandemic made 2020 an extraordinary year, with many tax authorities and Financial Institutions facing significant operational challenges. These include moving to remote working arrangements, sometimes with limited access to secured systems. This has affected the ability of many tax authorities to collect, sort, validate and transmit the information in time for exchanges to take place in September 2020 (as is normally the case). To respond to these challenges, and to ensure that the 2020 exchanges take place in an orderly, coordinated and predictable way, the Global Forum agreed to an extension of the deadline. Where needed, jurisdictions could undertake exchanges up until the end of December 2020. A large number of jurisdictions have made use of this extension.

Over 96% of the jurisdictions have the necessary legal and technical frameworks in place to deliver their commitment to exchange in 2020.  

Three jurisdictions committed to exchange in 2020 for the first time. These are set out in Table 1.4, namely Nigeria, Oman and Peru. These jurisdictions have the necessary frameworks in place, or are finalising their completion, and are on track to deliver on their commitments.

A further ten jurisdictions are committed to starting exchanges in the coming years. These are set out in Table 1.5 below.

In order to realise the potential benefits the AEOI Standard has to offer, jurisdictions must not only implement it on a widespread basis and in a timely manner. They also have to implement its detailed requirements in a complete and effective manner.

To ensure this is the case, the Global Forum conducts peer reviews with respect to all aspects of the implementation of the AEOI Standard. Chapter 2 contains further details in this regard.


← 1. Details on each of the agreements in place can be found in Annex B

Metadata, Legal and Rights

This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. Extracts from publications may be subject to additional disclaimers, which are set out in the complete version of the publication, available at the link provided.

© OECD 2020

The use of this work, whether digital or print, is governed by the Terms and Conditions to be found at http://www.oecd.org/termsandconditions.