Identifier Exchange Service (IDES) is a secure electronic platform used for the exchange of tax information between governments and financial institutions. The purpose of IDES is to provide a standardized, secure, and efficient way for financial institutions to transmit foreign account holder data required under the Foreign Account Tax Compliance Act (FATCA). IDES allows participating governments to receive data in a consistent format and provides an encrypted channel for transmitting sensitive taxpayer information. This system helps ensure compliance with international tax reporting regulations and facilitates the sharing of information between countries to detect potential tax evasion.
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