Following the financial crisis of 2008 and ensuing austerity measures, politicians turned their attention to individual tax evasion and corporate tax avoidance. The United States enacted the Foreign Account Tax Compliance Act (FATCA) in 2010 and signed a series of Intergovernmental Agreements (IGAs) for the exchange of tax information. The OECD added Article 27 to its model tax treaty, laying out the rules for contracting parties who wish to collaborate in collecting taxes within the other State. Furthermore, the OECD developed the Multilateral Agreement for Administrative Assistance in Tax Matters (MAATM) and initiated the BEPS project to reduce tax evasion and tax avoidance globally. One of the missions of the BEPS project is to ensure transparency while promoting increased certainty and predictability. Action 5 focuses on the transparency of harmful tax practices, particularly in the IP regimes. Action 12 requires taxpayers to disclose their aggressive tax planning arrangements. Action 13 reexamines the transfer pricing documentation. While these reforms are a step forward in transparency, more focus needs to be placed on financial secrecy and transparency in future reforms.