Over 70 jurisdictions are planning automatic financial information exchange

16.11.2015

As on October 29, 2015 the 74 jurisdictions have acceded to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information developed by the OECD.

Under the standard, jurisdictions obtain financial information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. The standard consists of two components: the Common Reporting Standard and the Model Competent Authority Agreement, which contains the detailed rules on the exchange of information.

The information exchange standard covers not only banks, but also other financial institutions – custodians, brokers, certain collective investment vehicles and certain insurance companies. Reportable accounts include accounts held by individuals and entities (which includes trusts and foundations). The standard includes a requirement to look through passive entities to report on the individuals that ultimately control them.

Below is a complete list of countries that have committed to automatic exchange of information and the starting dates of this exchange:

JURISDICTION FROM WHICH THE COMPETENT AUTHORITY IS FROM INTENDED FIRST INFORMATION EXCHANGE BY

1. ALBANIA

September 2018

2. ANGUILLA

September 2017

3. ANTIGUA AND BARBUDA

September 2018

4. ARGENTINA

September 2017

5. ARUBA

September 2018

6. AUSTRALIA

September 2018

7. AUSTRIA

September 2018

8. BARBADOS

September 2017

9. BELGIUM

September 2017

10. BELIZE

September 2018

11. BERMUDA

September 2017

12. BRITISH VIRGIN ISLANDS

September 2017

13. BULGARIA

September 2017

14. CANADA

September 2018

15. CAYMAN ISLANDS

September 2017

16. CHILE

September 2018

17. COLOMBIA

September 2017

18. COOK ISLANDS

September 2018

19. COSTA RICA

September 2018

20. CROATIA

September 2017

21. CURASAO

September 2017

22. CYPRUS

September 2017

23. CZECH REPUBLIC

September 2017

24. DENMARK

September 2017

25. ESTONIA

September 2017

26. FAROE ISLANDS

September 2017

27. FINLAND

September 2017

28. FRANCE

September 2017

29. GERMANY

September 2017

30. GHANA

September 2018

31. GIBRALTAR

September 2017

32. GREECE

September 2017

33. GRENADA

September 2018

34. GUERNSEY

September 2017

35. HUNGARY

September 2017

36. ICELAND

September 2017

37. INDIA

September 2017

38. INDONESIA

September 2018

39. IRELAND

September 2017

40. ISLE OF MAN

September 2017

41. ITALY

September 2017

42. JAPAN

September 2018

43. JERSEY

September 2017

44. KOREA

September 2017

45. LATVIA

September 2017

46. LIECHTENSTEIN

September 2017

47. LITHUANIA

September 2017

48. LUXEMBOURG

September 2017

49. MALTA

September 2017

50. MARSHALL ISLANDS

September 2018

51. MAURITIUS

September 2017

52. MEXICO

September 2017

53. MONTSERRAT

September 2017

54. NETHERLANDS

September 2017

55. NEW ZEALAND

September 2018

56. NIUE

September 2017

57. NORWAY

September 2017

58. POLAND

September 2017

59. PORTUGAL

September 2017

60. ROMANIA

September 2017

61. SAINT LUCIA

September 2018

62. SAINT VINCENT AND THE GRENADINES

September 2018

63. SAMOA

September 2018

64. SAN MARINO

September 2017

65. SEYCHELLES

September 2017

66. SINT MAARTEN

September 2018

67. SLOVAK REPUBLIC

September 2017

68. SLOVENIA

September 2017

69. SOUTH AFRICA

September 2017

70. SPAIN

September 2017

71. SWEDEN

September 2017

72. SWITZERLAND

September 2018

73. TURKS & CAICOS ISLANDS

September 2017

74. UNITED KINGDOM

September 2017


Tags: exchange of tax information, offshores

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