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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China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap