EU funds tax transparency in developing countries

The EU has provided the Organisation for Economic Co-operation and Development global forum on transparency and exchange of information for tax purposes with €2m to support developing countries in implementing international standards on exchange of information on request and automatic exchange of information. 

The progress achieved by the forum so far is significant: in 2018 information was exchanged on more than 47 million financial accounts worth a total of €4.9trn while voluntary disclosure programmes generated more than €95bn in additional revenue.