The Tax Justice Network (TJN) has described the Common Reporting Standard (CRS) and the signing this week of the multilateral competent authority agreement to implement it as “progress” and “a good first step” towards automatic information exchange (AIE) and the elimination of illicit financial flows, but has refused to give them its unqualified support.
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The OECD had previously missed a June 30 deadline to agree an MLC on amount A; in other news, UK corporation tax bills surged to a record high last year