Update on the Implementation of the 2021 Strategy on Unleashing the Potential of Automatic Exchange of Information for Developing Countries

The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) is a multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information (AEOI). In 2014, all Global Forum members adopted the Standard for Automatic Exchange of Financial Account Information in Tax Matters (the Standard), which, almost a decade later, has proved to be one of the most powerful tools to tackle tax evasion and deter noncompliance. To ensure developing jurisdictions effectively participate in AEOI, the Global Forum Secretariat developed a capacity-building programme that has matured over time to achieve positive results while harnessing lessons learned to continuously improve. The Secretariat followed-up with an innovative Strategy in 2021 to unleash the potential of AEOI for developing jurisdictions (the Strategy), putting to paper a renewed approach based on successful experimentation since 2020. At the request of the Indian G20 Presidency, this report by the Global Forum Secretariat takes stock of the progress made on the participation of developing jurisdictions in AEOI under the Strategy, underpinned by the comprehensive capacity-building programme and outreach activities undertaken.