AEOI is a global initiative developed by the Organization for Economic Co-operation and Development (OECD) to combat tax evasion and improve tax transparency. It enables jurisdictions to automatically exchange financial account information about non-resident individuals and entities on an annual basis.
Under AEOI, financial institutions collect information on account holders who are tax residents in other countries and report it to their local tax authority. That authority then shares the data with the relevant foreign tax authorities.
Samoa implements AEOI through the Common Reporting Standard (CRS), which sets out the due diligence and reporting requirements for Samoan Reporting Financial Institutions (RFIs).
