Share with your friends

OECD: Updated exchange framework, XML schemas for exchanges of information

OECD: XML schemas for exchanges of information

The Organisation for Economic Cooperation and Development (OECD) today announced the release of an international administrative and operational framework for the exchange of information collected under the OECD’s model mandatory disclosure rules—that is, the framework to support the automatic exchange of information collected regarding the common reporting standard (CRS) regime.


Related content

Separately, the OECD released updated XML schemas and guidance to support the exchange of tax information under the CRS, on country-by-country (CbC) reporting, and in relation to tax rulings. 

Text of the XML schemas and user guides are available on today’s OECD release.

The updated user guides and XML schemas reflect the experiences gained from the initial exchanges, and are based on a multilateral competent authority agreement (MCAA). The MCAA will allow a jurisdiction that received information about a CRS avoidance arrangement or certain offshore structures to exchange that information with all jurisdictions of tax residence of the taxpayers concerned. This will allow the tax authorities of those jurisdictions to use the information received to conduct compliance activities with respect to both the taxpayers and the intermediaries involved in the disclosed arrangements.

 The CRS- and CbC-related schemas will be effective for all exchanges on or after 1 January 2021 (the tax ruling-related schemas will be effective as from 1 April 2020).

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


Want to do business with KPMG?


loading image Request for proposal