On 6 April 2017 the OECD released further information to support the consistent implementation of the Common Reporting Standard (CRS). This guidance includes a series of additional frequently asked questions (FAQs) related to the CRS and the second edition of the Standard for Automatic Exchange of Financial Account Information in Tax Matters. The OECD has also set out additional technical guidance on how to handle corrections and cancellations within the CRS XML Schema, as well as a revised and expanded set of correction examples.
Related Posts
OECD consults draft mining income ring-fencing toolkit
December 20, 2024
The Organisation for Economic Co-operation and Development (OECD) has released an announcement inviting public feedback on a draft toolkit published on 13 December 2024. This toolkit aims to assist developing countries address tax policy and
Read More OECD introduces new tools to simplify transfer pricing (Amount B)
December 20, 2024
The OECD has announced the launch of new tools to streamline the implementation of Amount B under Pillar One aimed at simplifying transfer pricing rules. Amount B under the Two-Pillar Solution to Address the Tax Challenges of the Digitalising
Read More OECD publishes 8th annual peer review on Exchange of Information on Tax Rulings
December 18, 2024
The Organisation for Economic Co-operation and Development (OECD) has released the Harmful Tax Practices – 2023 Peer Review Reports on the Exchange of Information on Tax Rulings report on 16 December 2024. Under the BEPS Action 5 minimum
Read More OECD updates FAQs on ICAP, clarifies applications may be submitted year-round
December 08, 2024
The Organisation for Economic Cooperation and Development (OECD) released an updated version of its Frequently Asked Questions (FAQs) regarding the International Compliance Assurance Programme (ICAP) in December 2024. ICAP is a voluntary
Read More OECD: Norway signs multilateral agreement on exchange of information on CRS avoidance
December 04, 2024
A recent OECD update reported that Norway has signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information on CRS Avoidance Arrangements and Opaque Offshore Structures (MDR-MCAA) on 26 November 2024. This
Read More OECD: Papua New Guinea signs CRS-MCAA
December 03, 2024
The Organisation for Economic Co-operation and Development (OECD) has announced that Papua New Guinea has officially signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (CRS-MCAA) on 26
Read More