John Harrington recently published an article in Tax Notes Today (available through the Lexis paywall) regarding eight potential challenges presented by an international automatic exchange system.
On February 13, the OECD released details of its proposed common reporting standard, or CRS. With the release of this report, the OECD and G-20, like the dog intent on catching a bus that it has long chased and finally caught, now have to figure out what do to with the prize they have captured. Harrington discusses how an automatic information exchange could affect taxpayers, financial intermediaries, and governments.
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