Regional Cooperation and Tax Information Exchange among Asia-Pacific Tax Authorities

The rapid growth of economic activities in the Asia-Pacific region brings with it a rising risk of cross-border tax evasion and avoidance. In this context, tax authorities in the region are more than ever required to work together to counter these risks, and the importance of tax information exchange within the region is increasing. While the OECD leads the global initiative to enhance transparency and the exchange of tax information, the frameworks of regional cooperation in Asia-Pacific are not as developed in comparison with other regions such as Europe, the Americas and Africa, and even with other financial enforcement authorities in the region. This article highlights issues with which Asia-Pacific tax authorities are faced with respect to tax information exchange, and suggests measures to enhance such exchanges among the tax authorities in the region.