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OECD reported about results of the first automatic exchange


The Organization for Economic Cooperation and Development has published the report about the results of the first automatic tax exchange in which 86 countries have participated. Generally these countries have implemented 4,500 bilateral exchanges and each of them contained the detailed financial information about tax residents of the participating countries.

At the same time it is specified that the 11 jurisdictions have exchanged unilaterally. It means if countries sent information but didn’t accept anything from other members of the Convention. Among these jurisdictions there are the British Virgin Island (BVI), the Marshall Islands, the Bahamas, the United Arab Emirates (UAE), Qatar and others.

Russia also hasn’t carried out the exchange of information yet because it is on the stage of technical support exchange. Despite of this moment data for 2017 year was received from the other countries.

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