Peer Review of the Automatic Exchange of Financial Account Information 2020
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 in order 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, and a review of the effectiveness of
the implementation of the standard in practice.
This report presents the 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 100 jurisdictions that committed to commence AEOI from 2017 or 2018. The Global
Forum has also begun the reviews of the effectiveness in practice of the implementation
of the standard, the results of which are expected to be published in 2022.