The UK government on September 18 released a guide on automatic exchange of financial account information which focuses on the requirements of the OECD Common Reporting Standard (CRS) and the EU Directive on Administrative Cooperation in Tax Matters.
The guide is designed provide HM Revenue and Customs staff and UK financial institutions with an understanding of the requirements that financial institutions must fulfill to comply with their obligation and to review, collect, and report information.
The guide is also intended as a reference for financial Institutions and tax professionals for use alongside the Commentaries to the CRS.
Feedback on the manual is requested.
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