OECD Launches a New Global Framework for Real Estate Tax Transparency (AMAC RBI)

A new framework for the automatic exchange of already available information on real estate (AMAC RBI) has been presented to the Finance Ministers and Central Bank Governors of the G20. For the first time, real estate fully enters the scope of international tax transparency, alongside financial accounts and crypto-assets.

In concrete terms, the tax authorities of participating countries will now be able to automatically exchange, on an annual basis, the information they already hold on real estate located in their territory but owned by foreign residents. This includes the identity of owners and beneficial owners, property values, acquisitions, sales, rental income, capital gains and taxes paid. This will enable states to verify that foreign real estate income and assets are properly declared and that the origin of funds used for acquisitions complies with tax rules.

The mechanism is built around two complementary pillars. The first provides full visibility on properties held and newly acquired abroad by taxpayers. The second establishes an annual automatic exchange covering real estate income and disposals.

More than twenty countries have already announced their intention to adopt the AMAC RBI by 2029–2030, including: South Africa, Germany, Belgium, Brazil, Chile, Korea, Costa Rica, Spain, Finland, France, Greece, Iceland, Ireland, Italy, Lithuania, Malta, New Zealand, Norway, Peru, Portugal, Romania, the United Kingdom, Slovenia, Sweden and Gibraltar.