A core element of the increase in tax transparency for individuals at the international level is the automatic information exchange on tax matters. More than 90 countries have committed to implementing the global AEI standard.
The AEI standard consists of four elements that are contained in the OECD document “Standard for Automatic Exchange of Financial Account Information”:
- Intergovernmental agreement or international treaty
- Common Reporting Standard
- Commentary on interpretation
- Technical implementation guidelines
Despite the fast pace at which it is being drafted, it is important to take several points into account. In addition to the time aspect, the technical details of the implementation are also very important.