international_news_bulletin_july_1st_to_5th_2019_.pdf -...

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July 1 st to 5 th , 2019 1 1. OECD releases updated framework and multiple technology resources in relation to technology-driven exchange of certain taxpayer information The Organization for Economic Co-operation and Development (OECD) released the international administrative and operational framework (the framework) for the exchange of information collected under the Common Reporting Standard (CRS)-related Mandatory Disclosure Rules (MDRs). The framework, says the OECD, delivers the legal element of the automatic exchange of information collected under the OECD’s Model MDRs on CRS Avoidance Arrangements and Opaque Offshore Structures (the Model). The framework, they note, will enable a jurisdiction that has received information regarding a CRS Avoidance Arrangement or Opaque Offshore Structure under the MDRs to exchange such information with all jurisdictions of tax residence of the taxpayer concerned. The Framework includes the MDR extensible mark-up language (XML) Schema and User Guide to support the operational and technical side of the MDR exchanges. The MDR XML Schema is a type of data reference document, designed to ensure that all jurisdictions follow common data categorization and naming conventions that will facilitate the structured collection and exchange of information on CRS Avoidance Arrangements and Opaque Offshore Structures by tax administrations. Source: