THE OECD has launched a new
portal on Automatic Exchange of Information (AEOI). It provides a comprehensive
overview of the work of the OECD and the Global Forum on Transparency and
Exchange of Information for Tax Purposes in the area of the automatic exchange
of information, in particular with respect to the Standard for Automatic
Exchange of Financial Account Information in Tax Matters (also referred to
as the Common Reporting Standard or CRS).
The Standard calls on governments to obtain detailed account information from
their financial institutions and exchange that information automatically with
other jurisdictions on an annual basis. More than 90 countries and jurisdictions
have already publicly committed to implementation, while more than 50 have
committed to a specific and ambitious timetable leading to the first automatic
information exchanges in 2017.
This new site equips tax administrations and financial institutions with the
necessary information and legal, administrative and IT tools to implement this
new Standard.
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