OECD Sees 43% Jump in Developing Countries’ Tax Info Requests

Developing countries sent 4,659 requests for information to other jurisdictions toward their cross-border tax investigations in 2024, a 43% increase from 2023, according to an annual report the OECD released Thursday.

Developing countries participating in exchanges through the common reporting standard — a global standard for automatic sharing of financial account data between tax authorities — sent information on 21 million financial accounts valued at €440 billion ($510 billion) in 2024, according to the Organization for Economic Cooperation and Development’s Global Forum.

Those countries also received information on 53 million financial accounts worth €2.7 trillion, according to the report. ...