World Tax Agencies Swapped Info From 84M Accounts in 2019

Law360, London (June 30, 2020, 1:11 PM BST) -- Tax authorities across the globe exchanged information on 84 million offshore accounts covering €10 trillion ($11.2 trillion) in assets in 2019 as they fought tax avoidance, a report released Tuesday showed — nearly double the levels recorded a year earlier.

The Organisation for Economic Cooperation and Development said that was an increase on the 47 million accounts disclosed and assets worth €4.9 trillion in 2018, the first year it gathered the statistics.

The volume of data being shared is growing because more transactions are falling within the scope of the information that has to be exchanged, according to the OECD....

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