TECHNICAL ROUND UP – OECD TAX INFORMATION EXCHANGE SYSTEM LAUNCHED
July 2nd, 2014
THE ORGANISATION for Economic Cooperation and Development (OECD) has released a full version of a new global standard for the exchange of information between jurisdictions. Its ‘Standard for Automatic Exchange of Financial Account Information in Tax Matters’ calls on governments to obtain detailed account data from financial institutions and exchange it automatically with other jurisdictions annually. Sourced information would include balances, interest, dividends, and sales proceeds from financial assets, covering accounts held by individuals and ...
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