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Vol 21 No 10 Oct/Nov 2016

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Standard for Automatic Exchange of Financial Account Information in Tax Matters

Edited by: OECD

ISBN13: 9789264216518
Published: August 2014
Publisher: OECD Publishing
Country of Publication: UK
Format: Paperback
Price: Out of print



The Standard for Automatic Exchange of Financial Account Information, developed by the OECD with G20 countries, represents the international consensus on automatic exchange of financial account information for tax purposes, on a reciprocal basis. Over 60 jurisdictions have committed to implementing the Standard and all financial centres have been called to match those commitments, as of July 2014.

This publication is the first edition of the full version of the Standard for Automatic Exchange of Financial Account Information. It contains the text of the Model Competent Authority Agreement and the Common Reporting Standard, and the Commentaries thereon, as they read on 15 July 2014. It also includes multilateral and nonreciprocal versions of the Model Competent Authority Agreement, the technical modalities and a wider approach to the Common Reporting Standard.

Subjects:
Taxation
Contents:
Abbreviations and acronyms 7
I. Introduction 9
II. Model Competent Authority Agreement and Common Reporting Standard 19
A. Model Competent Authority Agreement 21
B. Common Reporting Standard 29
III. Commentaries on the Model Competent Authority Agreement and the Common Reporting Standard 63
A. Commentaries on the Model Competent Authority Agreement 65
Introduction 65
Commentary on the Preamble 67
Commentary on Section 1 68
Commentary on Section 2 71
Commentary on Section 3 72
Commentary on Section 4 77
Commentary on Section 5 79
Commentary on Section 6 89
Commentary on Section 7 90
B. Commentaries on the Common Reporting Standard 93
Introduction 93
Commentary on Section I 94
Commentary on Section II 106
Commentary on Section III 110
Commentary on Section IV 127
Commentary on Section V 135
Commentary on Section VI 143
Commentary on Section VII 149
Commentary on Section VIII 158
Commentary on Section IX 207
Annexes 213
Annex 1. Multilateral Model Competent Authority Agreement 215
Annex 2. Nonreciprocal Model Competent Authority Agreement 223
Annex 3. Common Reporting Standard User Guide 230
Annex 4. Example Questionnaire 277
Annex 5. wider Approach to the Common Reporting Standard 284
Annex 6. Declaration on Automatic Exchange of Information in Tax Matters 301
Annex 7. Recommendation of the Council on the Standard for Automatic
Exchange of Financial Account Information in Tax Matters 305