Exchange of information secures cross-border tax information sharing while preserving secrecy and allowing limited exceptions and assistance.

The exchange of information provision requires competent authorities to share information necessary for implementing the Agreement or administering covered taxes; such information must be kept secret and used only for assessment, collection, enforcement, prosecution, appeals or oversight, except where both states' laws permit other uses and the supplying authority authorises them. A state need not take measures contrary to its laws, supply unobtainable information, or disclose trade or professional secrets or information contrary to public policy. Requested states must use their information gathering measures even absent domestic need, and bank or fiduciary secrecy does not justify refusal; assistance in revenue collection is also provided.

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