Cyprus is among the 51 jurisdictions that signed the new OECD/G20 standard on automatic exchange of information on 29 October 2014 at the annual meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes held in Berlin.

The new Standard for Automatic Exchange of Financial Account Information in Tax Matters provides for automatic exchange of all financial information on an annual basis.

Cyprus has committed to implementing the Standard on a reciprocal basis with all interested jurisdictions. Cyprus is a member of the "Early Adopters" group of almost 40 countries that have committed to work towards launching their first information exchanges by September 2017. Others are expected to follow in 2018.

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