Draft Commentary Prepared by OECD for Common Reporting Standard (CRS) for Automatic Exchange of Information (AEOI)
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March 11, 2014
TO: ICI GLOBAL TAX COMMITTEE No. 4-14 RE: DRAFT COMMENTARY PREPARED BY OECD FOR COMMON REPORTING STANDARD (CRS) FOR AUTOMATIC EXCHANGE OF INFORMATION (AEOI)
As discussed during our 11 March call, the Organisation for Economic Co-operation and Development (OECD) has prepared draft Commentary (attached) for the Common Reporting Standard (CRS) for Automatic Exchange of Information (AEOI) regarding financial assets. [1] The OECD plans to finalize the CRS Commentary in June 2014.
Please review the draft Commentary at your convenience. This draft, as we discussed, is for official use only and should not be posted on any website or distributed outside of your organisation.
An ICI Global Tax Committee call will be scheduled for early April to review the draft Commentary and the discussion that will take place at the 24 March OECD meeting that will include members of the FATCA/AEOI Business Advisory Group chaired by ICI Global.
Any questions regarding the CRS or the Commentary may be directed to the undersigned at lawson@ici.org or 1-202-326-5832.
Keith Lawson
Senior Counsel - Tax Law
endnotes
[1] See Institute Memorandum # 27892, dated February 13, 2014.