Nearly 100 countries are ready to exchange information on offshore accounts

The Organization for Economic Co-operation and Development (OECD) has published data on agreements for the automatic exchange of information on offshore accounts. Now this network covers about 100 countries ready for automatic exchange of information (Common reporting standard - CRS) in September. At the moment the number of bilateral agreements is more than 3200 (in Russia - 59).

The OECD notes that over the past couple of months there has also been an increase of the participants in multilateral agreements on mutual assistance in the field of tax administration, which is the main international tool for all forms of implementing tax information exchange.

Since the beginning of May, the former Yugoslav Republic of Macedonia, Grenada, Hong Kong, Liberia, Macau, Paraguay and Vanuatu have acceded to the convention, and the Bahamas, Bahrain, Peru and the UAE are ready for ratification.

On materials of the following website: https://www.oecd.org/tax/automatic-exchange/news/major-enlargement-of-the-global-network-for-the-automatic-exchange-of-offshore-account-information-as-over-100-jurisdictions-get-ready-for-exchanges.htm