Automatic Exchange of Information (AEOI)

Tuesday, Mar 01 2016 05:05 PM

As the world becomes increasingly globalised and cross-border activities become the norm, tax administrations need to work together to ensure that taxpayers pay the right amount of tax to the right jurisdiction. A key aspect for making tax administrations ready for the challenges of the 21st century is equipping them with the necessary legal, administrative and IT tools for verifying compliance of their taxpayers. Against that background, the enhanced co-operation between tax authorities through AEOI is crucial in bringing national tax administration in line with the globalised economy.

February 2016

  • Self-certification forms : The Business and Industry Advisory Committee to the OECD (BIAC) has drafted the following self-certification forms and has requested the OECD to make these forms available on the AEOI Portal to assist with the implementation of the CRS. The OECD has not approved the forms and neither the OECD nor BIAC regard them as mandatory or as best practice documents. They serve only to illustrate how financial institutions may consider requesting customer information from their accountholders. Financial institutions should consult their advisers to ensure their CRS-related operations, including the self-certification forms collected from accountholders, comply with all applicable national laws. BIAC is an independent international business association devoted to giving the OECD business perspectives on a broad range of global policy issues.

Controlling Person tax residency self-certification form

Entity tax residency self-certification form

Individual tax residency self-certification form

January 2016

December 2015

November 2015

October 2015

  • Launch of the Portal on Automatic Exchange of Information 

August 2015

  • Common Reporting Standard Implementation Handbook (the CRS Handbook): this first edition provides practical guidance to assist government officials and financial institutions in the implementation of the Standard. It also contains answers to frequently asked questions (FAQs) received from business and governments, with a view to furthering the effective implementation of the Standard.
  • Offshore Voluntary Disclosure Programmes: this second edition contains a wealth of practical experience from 47 countries in relation to their voluntary disclosure programmes. The limited time left until the automatic exchange of information under the Standard becomes a reality will in many instances be the last window of opportunity for non-compliant taxpayers to voluntarily disclose. 
  • CRS Related FAQs.

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