From FATCA to GATCA

On February 13, 2014 the OECD has presented a report on a global standard for the automatic exchange of tax information between countries.  Attached to this report are a model agreement, for the use of countries wishing to engage in automatic exchange of information, and Common Reporting Standards which include suggestions for reporting and due diligence requirements countries can impose on the financial institutions. These standards are the next step from Fatca to Gatca, a global account tax compliance act.
In this newsflash you will find information about the report and the impact it can have on your organisation.