We have fought in the wilderness for years on the issue of automatic information exchange, with the OECD leading the charge in saying that its next-to-useless standard of 'on request' information exchange was the 'internationally agreed standard." Well, the OECD sort of threw in the towel
a few months back, and now we see something that we discussed recently
: in a complex chess game involving the U.S., the E.U., and various tax havens, many jurisdictions will have no choice but to accept automatic information exchange.
Tax Research notes a debate in Jersey
, which explains the issue well. Important progress, confirming that our earlier analysis
was right on the money.
To see why automatic information exchange is the superior form of transparency
, see here