The OECD, on July 21, released the full version of its standard for automatic exchange of tax information. Included is an overview of the standard, the full text of the Model Competent Authority Agreement and the Common Reporting and Due Diligence Standard, commentaries on the model agreements, and seven annexes, including model multilateral and nonreciprocal competent authority agreements and a common reporting standard user’s guide.
The OECD will formally present the standard to G20 Finance Ministers at their next meeting in Cairns, Australia, on 20-21 September 20–21.
More than 65 countries and jurisdictions have publicly committed to implementation of automatic information exchanges in 2017, the OECD states in a July 21 release. Standard for Automatic Exchange of Financial Account Information in Tax Matters, OECD release, prior coverage.
