In a new movement against tax fraud in 2017 it will be adopted for the first time
together a specific calendar for the exchange of fiscal and financial information being valid for
accounts opened in 2015 on.
Spain , France , Italy, Germany and the UK , all 5 drivers countries of the proposal, described as "historic" the setting of a global standard for automatic exchange of information , and encourage more States to join .
A total of 44 countries and jurisdictions around the planet are committed to apply automatic exchange of tax information (IAI ) through a specific timetable, and within the framework of the International Mutual Assistance . This calendar will mean that in 2017 exchanged information concerning , even accounts that are open at the end of the pilot commitment 2015.The project launched by Spain , Germany , France, Italy and the UK (G-5 ) project , follows the model FATCA agreement with the U.S. .
This model agreement in whose elaboration actively intervened Spain , includes the commitment to develop a comprehensive and standardized system of automatic exchange of information. Finance ministers of the five countries in 2013 sent a letter to European Commissioner for Fiscal Affairs , noting that would increase the spread of IAI , inviting other countries to effect. This project aims to have the maximum number of jurisdictions in implementing multilateral approach , minimize compliance costs of tax authorities and financial sector , and establish a single global system of information exchange. This scenario is the main tool for preventing tax evasion and to combat it , through the production and efficient use of information with tax significance .
Spain , France , Italy, Germany and the UK , all 5 drivers countries of the proposal, described as "historic" the setting of a global standard for automatic exchange of information , and encourage more States to join .
A total of 44 countries and jurisdictions around the planet are committed to apply automatic exchange of tax information (IAI ) through a specific timetable, and within the framework of the International Mutual Assistance . This calendar will mean that in 2017 exchanged information concerning , even accounts that are open at the end of the pilot commitment 2015.The project launched by Spain , Germany , France, Italy and the UK (G-5 ) project , follows the model FATCA agreement with the U.S. .
This model agreement in whose elaboration actively intervened Spain , includes the commitment to develop a comprehensive and standardized system of automatic exchange of information. Finance ministers of the five countries in 2013 sent a letter to European Commissioner for Fiscal Affairs , noting that would increase the spread of IAI , inviting other countries to effect. This project aims to have the maximum number of jurisdictions in implementing multilateral approach , minimize compliance costs of tax authorities and financial sector , and establish a single global system of information exchange. This scenario is the main tool for preventing tax evasion and to combat it , through the production and efficient use of information with tax significance .
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