The legality of intergovernmental agreements (IGAs) has been called into question on the grounds that any agreement between governments binding each government is a treaty. Since the U.S. Constitution does not allow the executive branch to unilaterally implement treaties without Senate approval, many argue that IGAs have no basis in the U.S. Constitution.  IGAs were not described or provided for in fatca laws, but were designed and implemented on the basis that it became clear that fatca would fail without it.  The agreement was born out of the OECD`s work on combating harmful tax practices. The lack of effective exchange of information is one of the main criteria for determining harmful tax practices. The agreement is the standard for the effective exchange of information within the meaning of the OECD`s initiative on harmful tax practices. In this regard, legal systems may be based on a bilateral agreement between the competent authority for the implementation of the automatic exchange of information in accordance with the common standard of notification or automatic exchange of reports by country on a TIEA, particularly in cases where it is not (yet) possible to automatically exchange information through the relevant authority within the framework of a relevant multilateral agreement. Jurisdictions can also use the text of the articles in the model protocol if they wish to include the automatic and spontaneous exchange of information in a new TIEA.
This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements. Many bilateral agreements are based on this agreement (see below). Tax Information Exchange Agreements (TIEA) provide for the exchange of information on request in the context of a specific criminal or civil tax investigation or civil tax matter under investigation.  A TIEA model has been developed by the OECD Global Forum Working Group on Effective Information Exchange. In June 2015, the OECD`s Tax Affairs Committee (CFA) approved a standard protocol on the agreement. The standard protocol can be used by jurisdictions if they wish to extend the scope of their existing TIEAs to the automatic and/or spontaneous exchange of information. The exchange of information on request was completed by an automatic procedure on 29 October 2014.  The automatic process must be based on a common reporting standard. The aim of this agreement is to promote international cooperation in tax matters through the exchange of information. It was developed by the OECD Global Forum Working Group on Effective Information Exchange. The submission statement describing the RTO and the shared exchange agreement were submitted on May 29, 2015 and press releases describing the OTN and private placement were filed on March 13, 2015, June 1, 2015, June 30, 2015 and July 6, 2015. See also the TIEAs, which were signed by the court, and the TIEAs, which were signed by the court.
It is available in English and French as well as in Spanish, German, Italian, Japanese, Korean and Turkish. This amount includes (1) the 1,250,000 shares Mr.