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The U.S. tax system complies with most international standards for transparency and information exchange with other governments, a review by the Organization for Economic Cooperation and Development found. 

The report, released June 2 at a conference in Bermuda, examined the availability of company ownership information, accounting records and banking records, along with the government’s cooperation with tax authorities around the world. 

“The U.S. tax system imposes a wide range of substantive tax and information-reporting obligations,” said the report, released by the 101-member Global Forum on Transparency of Information for Tax Purposes. “Persons seeking to obscure their affairs for tax or other reasons wouldn’t generally be eager to expose themselves to the authority of the Internal Revenue Service.”