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Developing countries and the automatic exchange of information standard – a “one-size-fits all” solution?

Published on 01 Apr 16 by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE

Recently, the Organisation for Economic Co?operation and Development (OECD), at the invitation of G20 countries, developed what it refers to as the new single global standard for the automatic exchange of information (AEOI) between key revenue authorities worldwide. This standard, if adopted by a country, would require the annual AEOI relating to financial accounts obtained from financial institutions and exchanged in a common reporting format or standard. Theoretically, the adoption of the AEOI standard on a global scale would equip all countries to address the illicit flow of money to locations which result in tax avoidance and other forms of non?compliance. However, the success of the AEOI standard relies on countries to be able to first, collect and supply the information required and second, effectively use and benefit from the information provided to them. This means that such an adoption places an onerous administrative burden on a country and this is arguably especially the case for developing countries which do not have the same level of administrative resources and intellectual capital as developed countries.

Author profiles

Prof Kerrie Sadiq CTA
Kerrie is a Professor of Taxation in the School of Accountancy at the QUT Business School, Queensland University of Technology. She holds a Bachelor of Commerce (B Com) from The University of Queensland, a Bachelor of Laws (Honours) (LLB Hons) from The University of Queensland, a Master of Laws (LLM) from Queensland University of Technology, and a PhD from Deakin University. Kerrie is a Chartered Tax Adviser as designated by the Taxation Institute of Australia and a Graduate of the Australian Institute of Company Directors. Kerrie primarily researches in international tax, tax expenditures and capital gains tax. She is author of numerous publications in both Australian and International journals and edited books and is a co-author of taxation texts. She is a co-editor of Australian Tax Review, one of Australia’s leading tax journals. Kerrie is often cited in the media in relation to international tax issues and regularly receives invitations to speak on contemporary tax topics. Recent work has been specifically on issues in international tax, such as transfer pricing, the OECD’s approach to base erosion and profit shifting (BEPS), Australia’s role in the G20 and the BEPS project, and automatic exchange of tax information. Kerrie writes balanced articles on BEPS for The Conversation. She has written and presented findings for the Committee for Economic Development of Australia (CEDA) and in 2015 appeared before the Senate Inquiry into Corporate Tax Avoidance. Prior to joining Queensland University of Technology, Kerrie spent 20 years at The University of Queensland, as a member of both their Law School and Business School. - Current at 09 December 2017
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Prof Adrian Sawyer
Adrian is Professor of Taxation in the Department of Accounting and Information Systems at the University of Canterbury, Christchurch NZ. - Current at 01 March 2015
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