Exchange on request

Exchange of information on request is the first result of the effort to improve the process of international information exchange and an efficient tool in the hands of the Tax authorities worldwide. The exchange is executed upon the request of the enquiring tax authority with regard to certain individuals and implies the disclosure of personal tax related information by banks and other financial institutions (e.g., name and address of beneficial owner of the account, account number, account balance, income for the period, etc.).

Exchange of information on request is carried out on the basis of the applicable Double Tax Treaties if they provide for the administrative assistance in tax matters or on the basis of reciprocal tax administrative agreements. The instrument has gained huge popularity with the governments and is widely exploited by the tax investigators to follow their taxpayers’ assets located in foreign jurisdictions. 

MP Part can support in providing guidance as to the information on request procedure including:

  • information as to jurisdictions involved and procedure to follow;
  • support in administration of the information requests;
  • any other related services associated with the information exchange on request.