The Republic of Armenia, being a member of the Organization for Economic Cooperation and Development (OECD), joined the Common Reporting Standard for the automatic exchange of information on financial accounts. The countries' tax authorities that implemented the standard will automatically exchange information on the financial accounts of non-residents in financial institutions based on the principle of reciprocity.

The first information exchange will occur in 2025; Armenia will automatically exchange the financial accounts of non-residents with about 120 countries and geographical areas once a year on the principle of reciprocity. Financial institutions considered residents of the Republic of Armenia and non-residents with a permanent establishment registered in the Republic of Armenia shall electronically submit the information defined by the legislation to the tax authority up to May 10 of the tax year following each tax year.

Ahead of the implementation of the unified reporting standard, appropriate changes have already been made to the Tax Code. Armenia has also joined the international agreements that are the legal basis, in particular, the Convention on "Mutual Administrative Assistance in Tax Matters," as well as the multilateral agreement "On Automatic Exchange of Information on Financial Accounts" between competent authorities, which also defines the list of countries that have joined the deal, which Armenia should implement such an exchange. International agreements are placed in the "Other Agreements" subsection of the "International Tax Agreements" section of the "International Cooperation" section of the SRC official website.

Emphasizing the confidentiality of information exchanged between tax authorities, the State Revenue Committee has already successfully implemented the Organization for Economic Cooperation and Development's Information Security Management System (ISM). At the same time, the committee is carrying out active work to ensure information technology saturation, particularly in applying the OECD data transfer system (CTS).