Exchange of Information in Tax Matters

Globalisation and cross-border movement of persons capital have placed new challenges before national tax systems as well international taxation. Over the past 20 years there has been an unprecedented development exchange information, a previously ancillary instrument which developed into widely accepted global means fighting evasion. Exchange information evolved from limited scope used for implementation treaty provisions to sophisticated system automatic encompassing vast majority countries, including infamous havens. The notions secrecy transparency undergone re-evaluation process, resulting in paradigms directed at unveiling secret transactions. Banking abolished even countries with strong tradition thereof. As some time passed since introduction latest standard this paper reflects on most important aspects regulated by treaties: OECD’s CRS, EU’s DAC, FATCA. Following theoretical introduction, provides historical comparative overview instruments, presents practical results implementation. Findings evaluation conducted key stakeholders are accompanied available statistical depicting what extent it helpful preventing evasion Croatia Slovenia recovering lost public revenues. identifying shortcomings applications, based best practices data providing authorities recommendations improvement exchanging information. is still rather early stage implementation, current administration involvement will enable further evaluations future stages instrument.