The OECD is drafting an exchange agreement that would allow participating jurisdictions to share readily available information about property holdings and transactions annually to help deter undeclared assets.
The organization is aiming to release the draft competent authority agreement in mid-2025 to help tax authorities identify offshore income and hidden wealth, a topic that has gained traction with G20 nations, said Paul Hondius, head of the OECD’s Harmful Tax Practices Unit.
“Real estate is arguably one of the most attractive non-financial asset classes for people to invest their money in,” Hondius said on a panel at the Organization for ...
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