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Tax Law Update – Implementation of the global standard on automatic exchange of information

Home Insights Tax Law Update – Implementation of the global standard on automatic exchange of information

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Contributed by: Alex Mackenzie

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Published on: March 30, 2016

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Inland Revenue has released an official issues paper which follows the Government’s announcement on its commitment to implement the G20’s Automatic Exchange of Information Standard. The paper discusses the proposals for implementing Common Reporting Standards which set out rules for financial institutions in respect of due diligence on accounts, collection of details of financial assets and income, and reporting to the relevant tax authority; and seeks public submissions on a range of topics.

For more information, please read the full article available here as published by the International Tax Review.

 

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