The amount of financial information requests received by Luxembourg in the past ten years has jumped from 832 to 2,309 in the ten years since the G20 ended bank secrecy. Under the Automatic Exchange of Information in Tax Matters (AEOIA) and the Common Reporting Standard (CRS), thousands of bilateral 'exchange relationships' between countries are happening, which have enabled more than 250,000 requests for information over the past decade. In 2018, nearly 100 member jurisdictions automatically exchanged information on 47 million financial accounts, covering total assets of €3.9trn, acc...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes