The OECD has published a set of model rules, which would require advisers and intermediaries to disclose information to the tax authorities about schemes designed to avoid CRS reporting obligations or hide beneficial owners. This responds to a request by G7 finance ministers to develop rules based on the approach in BEPS Action 12.
These model disclosure rules will be submitted to the G7 presidency and are part of a wider strategy to prevent CRS avoidance. The OECD comments that many countries are ‘actively considering’ introduction of the rules and that the CRS itself requires participating jurisdictions to have rules in place to prevent avoidance arrangements.
See ‘Model mandatory disclosure rules for CRS avoidance arrangements and opaque offshore structures’ at http://bit.ly/2FG6xwT.
The OECD has published a set of model rules, which would require advisers and intermediaries to disclose information to the tax authorities about schemes designed to avoid CRS reporting obligations or hide beneficial owners. This responds to a request by G7 finance ministers to develop rules based on the approach in BEPS Action 12.
These model disclosure rules will be submitted to the G7 presidency and are part of a wider strategy to prevent CRS avoidance. The OECD comments that many countries are ‘actively considering’ introduction of the rules and that the CRS itself requires participating jurisdictions to have rules in place to prevent avoidance arrangements.
See ‘Model mandatory disclosure rules for CRS avoidance arrangements and opaque offshore structures’ at http://bit.ly/2FG6xwT.
