Luxembourg has announced it has signed an agreement with the US to exchange information regarding tax matters to help with steps towards global tax transparency. This is the first signing the jurisdiction has made with an Organisation for Economic Cooperation and Development country, which complies with the standard for tax information sharing. OECD secretary- general Angel Gurria said: 'I am particularly pleased that having recently withdrawn its reservation to the OECD standard on exchange of information, Luxembourg has within a matter of weeks renegotiated its agreement with the United States to allow for the exchange of bank information on request in all tax matters.'