The OECD released its anticipated framework Wednesday for the voluntary exchange of cross-border property ownership data to help countries bolster tax compliance.
The framework enables countries to exchange real estate data on a regular basis while maintaining legal and technical standards. It covers information on assets such as holdings, acquisitions and disposals of immovable property, as well as recurrent income derived from immovable property.
The document was issued as part of the OECD Secretary-General’s report to G20 Finance Ministers and Central Bank Governors, and is a product of the Indian G20 presidency’s request in ...