Global Daily Tax News, Global Forum Releases New CRS Audit Toolkit, (Feb 29, 2024)

The OECD Global Forum Secretariat has prepared a new Model Manual for CRS Compliance Audits.

The guidance is intended to support jurisdictions when developing, improving, or implementing their own procedures and methodologies for conducting CRS compliance audits.

The Model Manual was launched during a virtual event attended by 433 delegates from 105 jurisdictions. Experts from Liechtenstein, Mauritius, Qatar, and the United Arab Emirates shared practical experiences on this topic.

As part of its Strategy to unleash the potential of the automatic exchange of information in tax matters for developing countries, the Global Forum Secretariat has been developing toolkits and e-learning courses to facilitate implementation.

Thus far, it has released a Toolkit for the Implementation of the Standard for Automatic Exchange of Financial Account Information; a Model Administrative Compliance Strategy; a CRS Notifications Tracking tool; and a methodology for the implementation of the risk-based approach.