The OECD Council, the decision making body of the Paris-based Organisation for Economic Cooperation and Development, will formally adopt, on 15 July, the new standard for the automatic exchange of information on financial accounts. Its implementation aims to eradicate tax fraud and evasion globally.
More than 60 countries agreed in May to apply "swiftly" the new global standard developed by the OECD with the G20 countries, in close collaboration with the EU. The details are set out in a 230-page…