OECD: Information exchange having an effect

The automatic exchange of financial information between governments and tax authorities is helping to counter tax evasion, but there is room for improvement, according to the Organisation for Economic Co-Operation and Development (OECD).

This was the gist of a report by the Paris-based economic think tank on the automatic exchange of information concerning payments to taxpayers by banks and property purchases.

Governments are sharing financial information in an effort to make it harder for people to evade tax by shuffling money between countries and hiding it offshore.

 

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