How fast is the adoption pace of the Common Reporting Standard?
As at the end of December 2016, over 50 countries have already joined the automatic exchange of tax information. Relevant treaties include about 350 agreements on the mutual exchange of information for tax payers.
1,133 out of 1,459 possible agreements have been ratified.
Activation of new agreements that involve the remainder groups (jurisdictions that will adopt throughout 2017 and 2018) are scheduled for March and June 2017. Those that refuse from ratifying the tax exchange agreements are likely to become financial nonconformists.