The Organization for Economic Co-operation and Development (OECD) agreed on this global standard in July 2014. On October 29, 2014, together with 50 other states and jurisdictions, Liechtenstein signed the multilateral agreement on the implementation of the global standard for the Automatic Exchange of Information (AEOI). The agreement establishes a multilateral framework for implementing the new standard bilaterally with interested and applicable states.
Under the AEOI, tax authorities in participating countries pass information on to the tax authorities of other countries concerning the earnings and assets held by taxpayers. The aim is to prevent cross-border tax evasion. Within Liechtenstein itself, the AEOI is implemented by means of the AEOI act, the AEOI ordinance and the AEOI information sheet from the tax administration. Information is collected on this basis and exchanged with the relevant partner states in the following year.