Twenty-five jurisdictions Thursday agreed to an OECD-led framework for the automatic exchange of real estate information between tax authorities by the end of the decade.
Brazil, Chile, Costa Rica, France, Germany, Ireland, Italy, Spain and the United Kingdom are among the countries planning to adopt the first multilateral system for sharing information on non-financial assets in an effort to curb tax evasion, according to a joint statement.
The countries intend to join the framework “by 2029 or 2030, subject to domestic procedures as applicable,” the statement said.
The OECD released what it calls the Multilateral Competent Authority ...