Kazakhstan and Vanuatu have signed the CRS Multilateral competent authority agreement (CRS MCAA), bringing to 102 the number of signatories.
The CRS MCAA contains the framework for automatic exchange of financial account information between tax authorities, specifying the notifications each jurisdiction must file to activate the exchange relationship. These include:
confirmation that domestic CRS legislation is in place and whether exchanges will be reciprocal or non-reciprocal;
specification of transmission and encryption methods;
specification of the data protection requirements;
confirmation of appropriate confidentiality and data safeguards; and
a list of intended exchange partner jurisdictions under the CRS MCAA.
Kazakhstan and Vanuatu have signed the CRS Multilateral competent authority agreement (CRS MCAA), bringing to 102 the number of signatories.
The CRS MCAA contains the framework for automatic exchange of financial account information between tax authorities, specifying the notifications each jurisdiction must file to activate the exchange relationship. These include:
confirmation that domestic CRS legislation is in place and whether exchanges will be reciprocal or non-reciprocal;
specification of transmission and encryption methods;
specification of the data protection requirements;
confirmation of appropriate confidentiality and data safeguards; and
a list of intended exchange partner jurisdictions under the CRS MCAA.
