Since the Automatic Exchange of Information (AEol, CRS) was introduced globally, the OECD and the EU have been working towards closing any loopholes. Already in March 2018, the OECD accepted the “Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures” (OECD MDR). A few months later, the EU enacted a directive regarding the […]

The DRAFT TAXATION (IMPLEMENTATION)(INTERNATIONAL TAX COMPLIANCE)(COMMON REPORTING STANDARD)(JERSEY) REGULATIONS 201- (Draft CRS Regulations) have now been lodged with the States of Jersey Jersey practitioners will be reassured to see (at Articles 10 – 18) the inclusion of expanded penalty provisions which seems to more accurately reflect the position adopted by the IoM/UK; that is to […]