On 17 December 2015 Greenland signed the Multilateral Competent Authority Agreement, re-confirming its commitment to implement automatic exchange of financial account information in time to exchange in 2017.
OECD agrees on course of action in response to EU request to include additional fields in the CRS XML Schema
On 1 December 2015 the OECD agreed on a common way forward in response to a request submitted by the European Commission pursuant to a mandate from EU Member States to include additional fields in the CRS XML Schema. This request was made further to the work of the European Commission and the EU Member States on the implementation of the Standard for Automatic Exchange of Financial Information in Tax Matters within the European Union.
Major implementation milestones are being met by members of the world’s leading forum on tax transparency as the international community continues to move ahead towards greater tax transparency. The imminent shift to the automatic exchange of information will send a strong warning to tax evaders.
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The OECD today releases three new reports to help jurisdictions and financial institutions implement the global Standard for automatic exchange of financial account information.