Peer Review of the Automatic Exchange of Financial Account Information 2022
The Global Forum on Transparency and Exchange of Information for Tax Purposes is a multilateral framework for tax transparency and information sharing, within which over 160 jurisdictions participate on an equal footing. The Global Forum monitors and peer reviews the implementation of the international standards of Exchange of Information on Request (EOIR) and Automatic Exchange of Information (AEOI).
AEOI provides for the automatic exchange of a predefined set of financial account information between tax authorities on an annual basis to assist them in ensuring the correct amount of tax is paid. To ensure the AEOI standard is fully effective, the Global Forum carries out a review of each jurisdiction’s domestic and international legal frameworks to ensure they are complete, as well as a review of the effectiveness of their implementation of the standard in practice.
This report presents the latest conclusions of the peer reviews of the legal frameworks put in place by each jurisdiction to implement the AEOI standard. The results relate to the more than 100 jurisdictions that committed to commence AEOI by 2020. It also contains, for the first time, the results of the Global Forum’s initial peer reviews in relation to the effectiveness in practice of the implementation of the standard.
Also available in: French
Monitoring the implementation of the AEOI Standard
As the political imperative to further address the problem of international tax evasion grew, the OECD and G20 developed the AEOI Standard. This was a major change in international tax transparency. All members of the Global Forum, aside from developing countries that did not host a financial centre, were consequently asked to commit to commence exchanging information under the AEOI Standard by 2017 or 2018, and many subsequent commitments to commence exchanges have also been made. This section contains the latest information on the timeliness of the implementation of the AEOI Standard by all jurisdictions.
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