Luxembourg sees tax information requests triple

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...