OECD: Three documents aim at ending offshore tax evasion

OECD: Documents aim at ending offshore tax evasion

The Organisation for Economic Co-operation and Development (OECD) on 7 August 2015 released three documents in connection with implementation of the global standard for automatic exchange of financial account information in tax matters (referred to as the Common Reporting Standard, or CRS).


Related content

  • The first document is the CRS Implementation Handbook (the Handbook) created to assist government officials with the implementation of the CRS. The Handbook also contains guidance that may be useful to financial intuitions in better understanding the CRS and how to implement it more efficiently.
  • The second document is the Update on Voluntary Disclosure Programmes, which suggests that countries consider launching, enhancing, or publicizing their voluntary disclosure programs to help taxpayers come into compliance before the implementation of the CRS.  The Update on Voluntary Disclosure Programmes discusses a number of design considerations and details the practical experiences of 47 countries.  
  • The final document is the Model Protocol for the Purpose of Allowing the Automatic and Spontaneous Exchange of Information Under a TIEA, which is relevant for government authorities considering an update of their existing legal framework for the exchange of information to allow for automatic exchange under the CRS or country-by-country reporting for multinational enterprise groups.    

Read an August 2015 report [PDF 254 KB] provided by KPMG International: OECD: Three documents aim at ending offshore tax evasion

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal



KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.