Luxembourg committed to a global standard on automatic exchange of information
Today Luxembourg, alongside 36 of its partners, has signed a declaration strongly supporting the development in the OECD of a single global standard for automatic exchange of information between tax authorities.
This declaration is fully in line with recent decisions taken by the Luxembourg Government such as the decision of 10 April 2013 to introduce, on 1 January 2015 and within the scope of the 2003 EU Savings Directive the automatic exchange of information and the signing by Luxembourg on 29 May 2013 of the OECD Convention on Mutual Administrative Assistance in Tax Matters.
Luxembourg expects the development of this global standard on automatic exchange of information to assure a worldwide level playing field and a much needed coherence of transparency rules within the international community. The creation of the same conditions for all international financial centers is essential for a successful fight against tax evasion at a minimum costs for tax authorities and national economies.
Luxembourg calls upon all countries participating in the G-20 and OECD discussions to join this initiative.
Joint statement for download here