This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements. Many bilateral agreements are based on this agreement (see below). Since 2012, political interest has increasingly focused on the possibilities of automatic exchange of information. Automatic exchange of information includes the systematic and regular transmission by the country of origin of «mass» tax data to the country of residence, through different income categories (dividends). B, interest, etc.). It can provide timely information on offences where taxes have been avoided, either on a return on investment or on the underlying capital, even if the tax authorities had so far no evidence of non-compliance. Agreement between the European Union and the Principality of Liechtenstein on the automatic exchange of financial account information to improve international tax compliance These legal systems recognise that it is by adopting a common approach to the automatic exchange of information that offshore tax evasion is most effective, while minimizing costs to governments and financial institutions. Automatic information exchange agreements are concluded between the UK and other countries. They allow the exchange of information between tax authorities in different countries on financial accounts and investments in order to put an end to tax evasion. The legality of intergovernmental agreements (IGAs) has been called into question on the grounds that any agreement between governments binding each government is a treaty.
Since the U.S. Constitution does not allow the executive branch to unilaterally implement treaties without Senate approval, many argue that IGAs have no basis in the U.S. Constitution.  IGAs were not described or provided for in fatca laws, but were designed and implemented on the basis that it became clear that fatca would fail without it.  Since it is a specific exchange of information, different types of exchanges are usually covered by another article. Covered taxes will generally be indicated in Article 2. (This content was selected under exceptions in the Freedom of Information Act 2000.) A brief guide was added: Information for Account Holders On April 19, 2013, G20 finance ministers approved automatic exchange as a planned new standard. On 19 June 2013, the G8 Heads of State and Government welcomed the OECD Secretary-General`s report «A Progressive Change in Tax Transparency,» which outlines concrete steps to implement a comprehensive automatic exchange model. On 6 September 2013, G20 leaders committed to an automatic exchange of information as a new global standard and fully supported the OECD`s work with the G20 countries to present a single standard in 2014. TIEAs are specifically intended for the exchange of information (although some are used to assist with the investigation).
They are often used where it is not appropriate to seek a full double taxation treaty, for example because one or both countries do not have income tax. Because they are much more limited in scope than treaties, they are theoretically much easier to negotiate and transpose into law for the jurisdictions they agree.