Common Reporting Standard (CRS) avoidance – OECD adopts tax disclosure rules for advisors as an ‘anti-avoidance’ approach
As part of its BEPS (Base Erosion and Profit Shifting) initiative, the OECD/G20 adopted an action item to exchange information about foreign bank accounts (and the like), in a ‘common’ format, or standard (‘Common Resporting Standard’ or ‘CRS’). As the CRS reporting, and automatic exchange, of information, about offshore financial accounts, becomes a reality, in…