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OECD publishes comments on mandatory disclosure of CRS avoidance

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The OECD has published the comments received on its December discussion draft on model mandatory disclosure rules for the common reporting standard (CRS). The model rules are intended to target promoters and service providers involved in the design, marketing or implementation of CRS avoidance arrangements or offshore structures. The information would be disclosed to national tax authorities and shared in accordance with the requirements of the applicable information exchange agreement.

The CIOT has published its comments, expressing concerns around:

  • avoiding excessive burdens or duplication of measures, such as national tax authorities’ access to beneficial ownership information under the EU administrative cooperation directive, and the UK’s new offence of corporate failure to prevent criminal facilitation of tax evasion;
  • balancing transparency and confidentiality, ensuring ‘absolute confidentiality’ and that notifications are made ‘on a wholly non-judgmental basis’; and
  • providing clarity on the hallmarks, such as the ‘unreasonable’ requirement for advisers to report details of high value accounts entered into since 15 July 2014.


Issue: 1384
Categories: News , International taxes