I have heard Sweden don’t auto share, is there anywhere else which does not auto share info, however will on request they will. But a yearly share wouldn’t be done?
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Jurisdictions that don’t auto share info?
- Thread starter Johnfodden
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There are two possibilities:
1) the country in question is engaged in AEOI/CRS system (Sweden is);
or
2) the country in question is NOT engaged in AEOI/CRS system.
If (1), then at the end of every year the financial information about you is automatically shared; if (2), then nothing is shared automatically but it usually can be shared on request (practically all countries agreed with this nowadays).
For a list︀ of non-AEOI/CRS coutries, you can search OECD website or even threads here.
USA are the︁ special case because they are not in AEOI but have FATCA. The result is a︂ little bit more complicated but generally you can treat it as relatively safe for non-US︃ citizens and unsafe (i.e. shared) for US citizens.
1) the country in question is engaged in AEOI/CRS system (Sweden is);
or
2) the country in question is NOT engaged in AEOI/CRS system.
If (1), then at the end of every year the financial information about you is automatically shared; if (2), then nothing is shared automatically but it usually can be shared on request (practically all countries agreed with this nowadays).
For a list︀ of non-AEOI/CRS coutries, you can search OECD website or even threads here.
USA are the︁ special case because they are not in AEOI but have FATCA. The result is a︂ little bit more complicated but generally you can treat it as relatively safe for non-US︃ citizens and unsafe (i.e. shared) for US citizens.
https://www.oecd.org/tax/transparency/AEOI-Commitments.pdf
As you can see, Sweden was one of the first countries to start sharing information automatically.
https://www.oecd.org/tax/automatic-...framework-for-the-crs/exchange-relationships/
It does under FATCA, but it's less reliable than CRS. FATCA is supposed to be reciprocal but in reality, it's still mostly one way with information going to the US.
So to be more precise, US does sometimes share information︀ automatically.
Serbia is not︂ a CRS signatory and does not engage in automatic exchange of information, except FATCA.
Montenegro will start in 2023.
As you can see, Sweden was one of the first countries to start sharing information automatically.
https://www.oecd.org/tax/automatic-...framework-for-the-crs/exchange-relationships/
It does under FATCA, but it's less reliable than CRS. FATCA is supposed to be reciprocal but in reality, it's still mostly one way with information going to the US.
So to be more precise, US does sometimes share information︀ automatically.
Serbia is not︂ a CRS signatory and does not engage in automatic exchange of information, except FATCA.
Montenegro will start in 2023.
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