The Organisation for Economic Cooperation and Development (OECD) today issued a release announcing that Kuwait has agreed to a Multilateral Competent Authority Agreement (MCAA) for implementing the automatic exchange of information on offshore financial accounts pursuant to the common reporting standard (CRS).
The OECD release notes that Kuwait is joining 83 other jurisdictions in implementing the CRS MCAA, and Kuwait thus has re-confirmed its commitment to implement the tools for the automatic exchange of financial account information in time to commence exchanges in 2018.
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