AEOI (Automatic Exchange of Information)

Automatic Exchange of Information (AEOI) is an international standard for sharing financial information between countries to combat tax evasion. Under AEOI, financial institutions collect data about account holders and automatically report this information to their governments, which then share it with foreign tax authorities. This process helps ensure that individuals and entities pay taxes owed in their home countries, promoting transparency and cooperation among nations. It aims to reduce tax fraud and increase compliance by allowing governments to access information about assets held internationally.