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G-20 agrees on automatic tax data sharing: OECD

Bloomberg  |  Canberra 

Group-of-20 nations agreed to implement a global standard for automatically exchanging information between tax authorities by the end of 2015, the Organization for Economic Cooperation and Development said. The endorsement is a step toward putting an end to "banking secrecy as we know it," Pascal Saint-Amans, director of the OECD's centre for tax policy and administration, told reporters on Sunday in Sydney, where G-20 finance ministers and central bankers are meeting. A decision on the technology needed and detailed rules on how governments will swap tax data is likely to ...

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First Published: Mon, February 24 2014. 23:40 IST