The Organisation for Economic Cooperation and Development (OECD) released comments received concerning a discussion draft on model rules intended to focus on promoters and service providers with a material involvement in the design, marketing or implementation of common reporting standard (CRS) avoidance arrangements or offshore structures.
As noted in an OECD release, the proposed rules would require promoters, service providers, and intermediaries to disclose information on the CRS avoidance arrangements 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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