The article gives a detailed bilateral tax treaties have included provisions for exchanging information on financial transactions and assets of non residents for decades. Under most existing agreements and the current OECD model, information is generally only exchanged upon request, and the requesting country must know basic identifying information about a non resident account holder in order to make a viable request. Many countries have recognized that this method is inadequate, and the alternative, for countries to collect and automatically exchange such information, has become the emerging international standard.
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