According to a communiqué issued by the OECD Forum on Tax Administration (FTA) following a recent meeting in Beijing, the heads of 44 tax administrations have designed and agreed to a Common Transmission System (CTS) for the exchange of information. The CTS will enable tax administrations to exchange Country-by-Country (CbC) reports and information collected under the OECD Common Reporting Standard (CRS), as well as other information that may be exchanged between tax jurisdictions. It will provide reliable and secure data transmission for the benefit of all countries, and is to be operational in time for the first CRS data exchanges in September 2017.
Click the following link for the FTA communiqué.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.