Automatic exchange of tax information in OECD countries in 2015

Organization for Economic Cooperation and Development (OECD) presented yesterday commissioned by the G20 a new standard for the exchange of information on taxpayers. According to him, data on foreign income of its residents (both companies individuals) countries will not receive on-demand, both now and in the automatic mode. We are talking about tracking transactions on accounts with balances above $ 250 thousand and the introduction of banks and other financial institutions to identify the actual responsibilities of asset owners. The new standard G20 intends to adopt in Sydney next week - it is expected that it will be implemented before the end of 2015.

Chapter OECD tax center Pascal Saint-Amand presented yesterday in Paris, the same standard for the exchange of tax information in the automatic mode (Common Reporting Standard, CRS). He suggests disclosure on a taxpayer banks and depositories, brokers, investment funds and insurance companies. The new standard, which will now have to approve countries G20 (including Russia), by the end of 2015 it is planned to transfer the existing system currently under bilateral tax treaties based on the transfer of financial data only on request.

document, according to developers, largely repeats the U.S. act of automatic exchange of data on taxpayers FATCA (Foreign Account Tax Compliance Act). The only difference is that as a criterion accessories OECD uses the principle of residence and not nationality, said Pascal Saint-Amand. According to the organization, the willingness to adopt a new standard expressed about 40 countries, including offshore and "poluofshory" Luxembourg, Liechtenstein, Guernsey and Jersey, Bermuda and the Cayman Islands.

Recall that in July last year, G20 finance ministers approved a plan to combat tax evasion by international companies. Complete the implementation of the reform package, participants pledged to the end of 2015. Shortly before this, the UK, Germany, France, Italy and Spain agreed on multilateral data exchange format for FATCA, later joined the agreement another 12 countries, including Mexico and Australia, and the UK has reached a similar agreement with the dependent territories, including the popular Russian business British Virgin island.

Russia acceded to the OECD Convention on assistance in the collection of taxes in the framework of which has developed a new standard for data exchange in November 2011, the document is currently being prepared for ratification by the State Duma. According to the deputy head of the Federal Tax Service Alexei OVERCHUK, in contrast to the practice of many international organizations, the OECD produced its standard based on extremely tight deadlines of its implementation - within a year, a report thereon OECD representatives present at the regular meeting of the G20, while the decision to establish system adopted in May 2013. According to him, specificity and time allotted work demonstrated the OECD indicate very serious attitude to the draft political leadership G20. Russian representatives as observers to the OECD, according to "Kommersant", participated in the drafting of the document.

kommersant.ru