SIX Launches Tax Compliance Data Service for CRS/AEoI
Officials say SIX's solution will ease firms' compliance burden and provide a single source of audit-ready tax data.
Under regulation being phased in from June 2017, member states of the OECD (Organization for Economic Co-operation and Development) have agreed to the automatic exchange of information regarding individuals with accounts outside their tax residence, following a common reporting standard. Wave one countries, including Germany, France and the UK, will exchange information for the first time in 2017. A further 47 jurisdictions in wave two are committed to start exchanging information in 2018
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