Exchange of information on tax matters
Produced in partnership with David Klass of Hunton Andrews Kurth
Exchange of information on tax matters

The following Tax guidance note Produced in partnership with David Klass of Hunton Andrews Kurth provides comprehensive and up to date legal information covering:

  • Exchange of information on tax matters
  • What is exchange of information?
  • The scope of the obligation
  • Exceptions to the obligation
  • Persons covered
  • Taxes covered
  • Time periods
  • Tax secrecy
  • Reciprocity
  • Legal professional privilege
  • more

Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Practice Note. For further guidance, see Practice Note: Brexit—UK tax consequences.

What is exchange of information?

Exchange of information (EOI) between tax authorities has long been a key element of international co-operation in tax matters.

More recently, however, growing levels of public and governmental concern regarding perceived tax avoidance (at both the individual and the corporate level) have caused the topic to assume a still greater significance, and have ensured that it has become a centrally important (and arguably more effective) cross-border anti-avoidance measure.

There are a variety of different regimes and instruments pursuant to which tax authorities such as HMRC exchange information relating to taxpayers with overseas tax authorities.

These include:

  1. double tax treaties or conventions (DTTs)

  2. tax information exchange agreements (TIEAs)

  3. the Council of Europe/OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAATM), and

  4. the EU Directive on Administrative Cooperation (DAC)

The Organisation for Economic Co-operation and Development (OECD) has been, and continues to be, a major player in this regard, including through its adoption of the common reporting standard (CRS) in