OECD: New CRS exchange agreement, handbook | KPMG | GLOBAL
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OECD: New common reporting standard exchange agreement, implementation handbook

OECD: New CRS exchange agreement, handbook

The Organisation for Economic Cooperation and Development (OECD) today announced:


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  • A new set of bilateral exchange relationships established under the common reporting standard (CRS) multilateral competent authority agreement (MCAA)—the new CRS MCAA includes activations by Panama
  • The second edition of the CRS implementation handbook

According to an OECD release, there are over 2,700 bilateral relationships for the automatic exchange of offshore financial account information under the CRS. The full list of automatic exchange relationships that are currently in place under the CRS MCAA is available online. A further update is expected to be published in May 2018. 

The CRS implementation handbook provides practical guidance to assist government officials and financial institutions in the implementation of the CRS and to provide a practical overview of the CRS to both the financial sector and the public at-large. Changes reflected in this second edition of the handbook offer further guidance on the features of the legal framework of the CRS, data protection aspects, IT and administrative requirements as well as on measures for compliance with the CRS. The handbook also expands the trust section in relation to the identification of “controlling persons” and includes a list of “frequently asked questions” (FAQs) in relation to the CRS.

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