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OECD – Consultation regarding disclosure of CRS avoidance arrangements and offshore structures
20/12/2017

On 11 December 2017, the OECD announced the launching of a consultation on new rules requiring disclosure of CRS avoidance arrangements and offshore structures.

The rules are targeted towards promoters of CRS avoidance arrangements or offshore structures. A promoter is defined as any person who is responsible for the design or marketing of a CRS avoidance arrangement or offshore structure.

They require that such intermediaries disclose information (including beneficial owner details) concerning avoidance arrangements and offshore structures to their national tax authority. The information would then be provided to tax authorities of other countries involved based on the applicable information exchange agreements.

Any feedback should be provided until 15 January 2018. It will be taken into account in preparing the report that will be sent to the G7 finance ministers early 2018.

 

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