Global Forum and Asian Development Bank organise experience-sharing workshop on the development of a customised technical solution for the automatic exchange of financial account information

 

21/03/2024 - The Global Forum Secretariat organised a virtual experience-sharing workshop in partnership with the Asian Development Bank (ADB) on 19 March 2024, to help jurisdictions understand the key requirements and components to develop a customised technical solution to process exchanges under the Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI). The event was attended by 52 delegates representing 12 jurisdictions from Africa, Asia, Central/Eastern Europe, Latin America, the Middle East and the Pacific.

To assist other jurisdictions committed to start AEOI in the coming years and considering the development of their own solution for automatic exchanges, officials from two jurisdictions with this experience presented the various components needed: project implementation plans, development project governance, key functionalities and security controls, connection to the Common Transmission System and generation of reports.

As part of its Strategy to unleash the potential of AEOI for developing countries, the Global Forum Secretariat has developed toolkits and e-learning courses to facilitate the implementation of the AEOI Standard. Launched in 2022 and available to tax authorities on demand, the Guidance for the design and development of a solution for automatic exchange of information aims at helping members make an informed decision on whether to purchase an off-the-shelves solution, or to develop their own, considering what features such solution should entail to ensure effective exchanges. It complements the Toolkit for the Implementation of the Standard for Automatic Exchange of Financial Account Information released in 2021.

The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.

The Global Forum capacity-building programme is supported by the following development partners:

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