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Andres Knobel, Markus Meinzer ■ Delivering a level playing field for offshore bank accounts – What the new OECD/Global Forum peer reviews on automatic information exchange must not miss

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Delivering a level playing field for offshore bank accounts – What the new OECD/Global Forum peer reviews on automatic information exchange must not miss

The OECD’s Global Forum is set to publish the terms of reference for peer reviews on automatic exchange of information pursuant to the OECD’s Common Reporting Standard (CRS) in the near future. This paper anticipates those terms and proposes concrete elements that future peer review should contain for them to be effective in protecting the integrity of the CRS. Chief among these elements are specific statistics to ensure compliance, identify avoidance schemes and allow evaluation by independent and excluded parties (e.g. developing countries and civil society).

The OECD’s Global Forum is set to publish the terms of reference for peer reviews on automatic exchange of information pursuant to the OECD’s Common Reporting Standard (CRS) in the near future. This paper anticipates those terms and proposes concrete elements that future peer review should contain for them to be effective in protecting the integrity of the CRS. Chief among these elements are specific statistics to ensure compliance, identify avoidance schemes and allow evaluation by independent and excluded parties (e.g. developing countries and civil society).

Key findings

  • 34 issues that peer review reports should address
  • A template on how to publish statistics on automatic exchange of information

Key recommendations

  • Publish statistics on automatic exchange of information to show effectiveness and detect avoidance schemes.
  • Consider voluntary secrecy and bilateral relationships as risk factors.

Additional resources