A global challenge

Maarten Van Der Hoeven explores the varying approaches taken by nations as they attempt to comply with Automatic Exchange of Information

It has been almost a decade since the introduction of the Foreign Account Tax Compliance Act (FATCA) by the US government, followed by the Common Reporting Standard (CRS) by the Global Forum on Transparency and Exchange of Information for Tax Purposes in 2014. The Global Forum is supported by the OECD’s Centre for Tax Policy and Administration and now has 154 members. The regimes were introduced to detect and deter tax evasion.