OECD: Disclosure rules of CRS “avoidance arrangements” | KPMG | GLOBAL

OECD: Comments requested, mandatory disclosure rules of CRS “avoidance arrangements”

OECD: Disclosure rules of CRS “avoidance arrangements”

The Organisation for Economic Cooperation and Development (OECD) today released a consultation document seeking comments on model mandatory disclosure rules inspired by the approach taken for common reporting standard (CRS) “avoidance arrangements” outlined within Action 12 of the base erosion and profit shifting (BEPS) project.

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The OECD release notes that the model rules are intended to target promoters and service providers with a material involvement in the design, marketing or implementation of CRS avoidance arrangements or offshore structures.

The proposed rules would require such intermediaries to disclose information on the scheme to their national tax authority. The rules contemplate that information on those schemes (including the identity of any user or beneficial owner) would then be made available to other tax authorities in accordance with the requirements of the applicable information exchange agreement.

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