Global Forum on Transparency and Exchange of Information for Tax Purposes


In April 2009, the G20 Leaders declared that “the era of banking secrecy is over”:

"We have today also issued a Declaration, Strengthening the Financial System. In particular we agree: ... to take action against non-cooperative jurisdictions, including tax havens. We stand ready to deploy sanctions to protect our public finances and financial systems. The era of banking secrecy is over. We note that the OECD has today published a list of countries assessed by the Global Forum against the international standard for exchange of tax information"

The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) was called on to deliver this result. Today, the Global Forum has 171 members and has achieved massive progress in implementing the international tax transparency and exchange of information standards. With the strong backing of the G20 and the Organisation for Economic Co-operation and Development (OECD), the Global Forum has produced the most impactful international project against offshore tax evasion in history.

Timeline of major developments

Achievements and challenges ahead


Gaël Perraud (Square)

“In 2023, we have reflected on our accomplishments and worked together towards defining the path that lies ahead. We completed the revision of our peer review and monitoring processes, adapting to the growing maturity of the exchange of information on request (EOIR) and automatic exchange of financial account information (AEOI) standards and focusing our efforts where they will have the greatest impact. We advanced the second round of EOIR peer reviews, with 125 jurisdictions having been assessed so far, and commenced the second round of AEOI effectiveness reviews, aiming to provide a deeper level of assurance that the standard is effectively enforced in practice. Whilst much has been achieved, we continue working to ensure that the recent gains are not gradually eroded by evolving financial market practices. In 2023, we commenced work on the implementation of the Crypto-Asset Reporting Framework (CARF) and the amendments of the AEOI Standard which, amongst other changes, incorporate new digital financial products. This work will preserve and enhance the immense wins of global transparency and exchange of information for the future.”

Gaël Perraud, Chair of the Global Forum