{"id":342,"date":"2018-01-02T20:31:55","date_gmt":"2018-01-02T20:31:55","guid":{"rendered":"http:\/\/ielrblog.com\/?p=342"},"modified":"2018-01-02T20:41:01","modified_gmt":"2018-01-02T20:41:01","slug":"oecd-global-forum-tax-transparency-highlights-enforcement-initiatives-annual-report","status":"publish","type":"post","link":"https:\/\/ielrblog.com\/index.php\/2018\/01\/02\/oecd-global-forum-tax-transparency-highlights-enforcement-initiatives-annual-report\/","title":{"rendered":"OECD Global Forum on Tax Transparency Highlights Enforcement Initiatives in Annual Report"},"content":{"rendered":"<p>On December 20, 2017, the OECD\u00a0Global Forum on Transparency\u00a0and Exchange of Information for Tax Purposes issued its annual <a href=\"http:\/\/www.oecd.org\/tax\/transparency\/reporting-on-the-implementation-of-the-AEOI-standard.\">report<\/a>.<\/p>\n<p>It noted the fact that 50 jurisdictions have committed to starting Automatic Exchange of Information in September 2017 pursuant to the OECD Common Reporting Standard (CRS).\u00a0 As the jurisdictions that participated in the 2017 exchanges are preparing to use the data for enforcement purposes, most of the remaining jurisdictions are preparing now to make their initial exchanges in September 2018.\u00a0 Already the <a href=\"http:\/\/www.oecd.org\/tax\/transparency\/reporting-on-the-implementation-of-the-AEOI-standard.\">report<\/a> on the 2017 implementation period is ready.\u00a0 The Global Forum is preparing to conduct full reviews of the implementation of automatic exchange of information (AEOI) by 2020.<\/p>\n<p>The OECD has developed a <a href=\"http:\/\/www.oecd.org\/tax\/transparency\/plan-of-action-AEOI-and-developing-countries.\">plan<\/a> of action to expand AEOI to developing countries.<\/p>\n<p>The Global Forum has finished the first round of peer reviews on exchange of information on request (EOIR).\u00a0 Almost all the jurisdictions have received a satisfactory level of implementation.\u00a0 The GF will now conduct a second round of peer reviews against the 2016 Terms of Reference.<\/p>\n<p>As of November 2017, the number of countries participating in the Multilateral Convention on Assistance in Tax Matters (CAM) reached 115.\u00a0 An additional 11 countries have requested to join.<\/p>\n<div>More than 96% of the jurisdictions that have committed to implement the AEOI Standard also have decided to join the\u00a0CRS <a href=\"http:\/\/www.oecd.org\/tax\/automatic-exchange\/international-framework-for-the-crs\/\">Multilateral Competent Authority Agreement<\/a> (the CRS MCAA) for putting in place necessary arrangements for exchanging financial account information.\u00a0 Hence, multilateralism on exchange of information is gaining momentum.<\/div>\n<div><\/div>\n<div>The GF&#8217;s annual report highlights the progress made in exchange of information and the targets set for 2018.<\/div>\n<div><\/div>\n<div>Clearly, EOIR and AEOI have developed gateways to facilitating the access to financial information by tax authorities.\u00a0 The authorities are increasingly using the data to develop enforcement cases against taxpayers and tax intermediaries.<\/div>\n<div><\/div>\n<div>The January issue of the IELR will have an article on these developments.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On December 20, 2017, the OECD\u00a0Global Forum on Transparency\u00a0and Exchange of Information for Tax Purposes issued its annual report. It noted the fact that 50 jurisdictions have committed to starting Automatic Exchange of Information in September 2017 pursuant to the OECD Common Reporting Standard (CRS).\u00a0 As the jurisdictions that participated in the 2017 exchanges are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":{"0":"post-342","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-international-tax-enforcement-cooperation","7":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OECD Global Forum on Tax Transparency Highlights Enforcement Initiatives in Annual Report | IELR Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ielrblog.com\/index.php\/2018\/01\/02\/oecd-global-forum-tax-transparency-highlights-enforcement-initiatives-annual-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OECD Global Forum on Tax Transparency Highlights Enforcement Initiatives in Annual Report | IELR Blog\" \/>\n<meta property=\"og:description\" content=\"On December 20, 2017, the OECD\u00a0Global Forum on Transparency\u00a0and Exchange of Information for Tax Purposes issued its annual report. 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