Did Automatic Exchange of Information End Bank Secrecy? Evidence from Aggregate Administrative Data
Bibliographic Data
| ID | 19048736 |
|---|---|
| Authors | Hjalte Fejerskov Boas (corresponding author), Matthew Collin (0000-0002-2820-8706), Sarah Godar (0000-0003-0081-7531), Carolina Moura, Andreas Økland |
| Year | 2026 |
| Publication date | 2026-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | PREPRINT |
| Venue | SSRN Electronic Journal (REPOSITORY) |
| Journal identifiers | ISSN: 1556-5068 • E-ISSN: 1556-5068 |
| Publisher | RELX Group (Netherlands) (PUBLISHER • NL) |
| DOI | 10.2139/ssrn.6201898 |
| OpenAlex | W7128421225 |
| Language | EN |
| References cited | 7 |
This paper evaluates the scope and coverage of the Common Reporting Standard (CRS), an international automatic exchange of information regime intended to eliminate bank secrecy and reduce cross-border tax evasion. We obtain new, aggregated CRS data from 26 countries, covering roughly 30% of the global amount reported by the OECD for the year 2022. We first show that cross-border financial wealth continues to be concentrated in tax havens. We then combine our aggregate CRS data with recent estimates of offshore financial wealth to estimate the coverage of the CRS. Our results suggest a coverage rate ranging from 38 to 93% for the subsample of countries we have the most granular data from, highlighting scope for improvement. However, we also show that the volume of data exchanged internationally has increased and improved in quality substantially over recent years, giving reason for longer-term optimism.
Aggregate data · Data quality · Exchange rate · Secrecy · Corporate Taxation and Avoidance · European Monetary and Fiscal Policies · Taxation and Compliance Studies
| Citation velocity | historical |
|---|---|
| Highly cited | No |