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Exchange of information

Global Forum Secretariat hosts virtual workshop on effective use of data from automatic exchange of information

 

05/10/2021 - A workshop on the effective use of data derived from the Automatic Exchange of Financial Account Information (AEOI) was organised by the Global Forum Secretariat. Held virtually on 4-5 October, it was attended by 625 participants from 89 jurisdictions.

The AEOI Standard is truly global with 120 from 163 Global Forum members now committed to start automatic exchanges by a specific date, and more than 100 jurisdictions having already started. Achieving the Standard’s overarching objectives of tackling offshore tax evasion and improving tax compliance requires the effective and comprehensive use of the information received.

Through presentations and experience sharing from various jurisdictions, the virtual workshop touched on key aspects of the effective use of AEOI data:

  • Data treatment i.e. the cleansing and parsing process.
  • Approaches to matching AEOI data to domestic taxpayers, and possible strategies in case of unmatched data.
  • Risk analysis implementation and multi-pronged approach to fine-tune the effective use according to different administrative frameworks or tax compliance strategies.

Through its capacity-building activities, the Global Forum is working to ensure that all members, and in particular developing countries, can benefit from the AEOI Standard. The Secretariat assists jurisdictions in their implementation of a compliance strategy and framework to ensure the effectiveness of the Standard, supports them in implementing an appropriate confidentiality and information security framework to safeguard the exchanged data, and helps them build strategies to effectively use exchanged information to enhance compliance and better fight tax evasion and other illicit financial flows.

Background information:

For more information, please contact gftaxcooperation@oecd.org.

 

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