LIMASSOL, 8 MAY 2018, FOUR SEASONS, 9.00-12.30
OECD INITIATIVES: OECD has released (i) Mandatory Disclosure Rules for Addressing CRS Avoidance Arrangements and Offshore Structures, (ii) Abuse of residence-by-investment schemes. The proposal targets, under threat of penalty for non-compliance, promoters and service providers with material involvement with the design, marketing or implementation of CRS avoidance arrangements or offshore structures. Contentiously, all legitimate exemptions and exclusions are effectively revoked, such as nonreportable FIs, non-reportable accounts, non-financial accounts, opaque structures holding property. Rules are retroactive as from July 2014. The second proposal is non-genuine tax residences.

• Prevent abuse of residence by investment schemes
• Purpose and goal of Mandatory Disclosure Rules
• Hallmarks of arrangements
• Hallmarks of offshore structures
• Who is an Intermediary?
• Triggers for reporting?
• Reporting and penalty for non-compliance
• Which avoidance is strongly, weakly, or not covered?