The OECD has issued a [new report]( to the G20, delivered today to the G20 Finance Ministers meeting in Washington DC. The report, points out that a number of jurisdictions have yet to properly implement the exchange of tax information on request, first agreed in 2009. It also notes that a number of others have refused to commit to the new standard for automatic exchange scheduled to go into effect in 2017-18. *“Our standards on tax transparency are robust,”* Mr Gurría said. *“They need to be effectively implemented worldwide, by everyone, with no exceptions, so there’s nowhere left to hide.”*

OECD Secretary-General Angel Gurría proposes that the G20 take additional steps to ensure that all countries and jurisdictions immediately endorse and implement all global standards devised and implemented by the [Global Forum on Transparency and the Exchange of Information for Tax Purposes](

The first priority is ensuring full implementation of the existing standard on [Exchange of Information on Request](, in time for the G20 Leaders Summit in 2017. At present, eight jurisdictions still do not have sufficient legal and regulatory frameworks in place, and, as a result, are blocked in Phase 1 of the peer review process. A further six jurisdictions are only now being examined in Phase 2 of the review process, which assesses the actual effectiveness of information exchange on request. Twelve additional jurisdictions are rated as only being “partially compliant” at the conclusion of the Phase 2 reviews.

The OECD welcomes that 98 jurisdictions have already committed to the Common Reporting Standard (CRS) on [Automatic Exchange of Information]( (AEOI) adopted by the G20 in 2014 and set to come into effect over the 2017-18 period.

Click [here]( for full release and background details.