Over 120 Countries to Automatically Exchange Tax Information

Over one-third of the member countries who participate in a tax transparency standards forum will automatically exchange tax information by 2027.

The Global Forum, which sets tax transparency standards for 171 countries, noted in a Wednesday press release that Papua New Guinea is the latest country to agree to implement the Global Forum’s international standard for automatic exchange of tax information by September 2027.

It is the third country this year to promise to exchange information after Senegal and Cameroon, raising the total number of participating countries to 121.

• The standard requires governments to collect information from local financial institutions ...