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OECD consults on misuse of residence by investment schemes

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The OECD is consulting until 19 March 2018 on the use of ‘residence by investment’ or ‘citizenship by investment’ schemes in a growing number of jurisdictions, which it believes are being used to circumvent the common reporting standard (CRS).

In particular, the consultation:

  • assesses how these schemes are used in an attempt to circumvent the CRS;
  • identifies the types of schemes that present a high risk of abuse;
  • reminds stakeholders of the importance of correctly applying relevant CRS due diligence procedures in order to help prevent such abuse; and
  • explains next steps the OECD will undertake to further address the issue, assisted by public input.

Responses should be emailed to by 19 March 2019

Issue: 1389
Categories: News , International taxes