LIMASSOL, 8 MAY 2018, FOUR SEASONS, 9.00-12.30
OECD INITIATIVES: OECD has released the final Mandatory Disclosure Rules for Addressing CRS Avoidance Arrangements and Offshore Structures. The rules advocate penalty taking action to prohibit an Intermediary from providing regulated or professional services in the jurisdiction for non-compliance by promoters and service providers with material involvement with the design, marketing or implementation of CRS avoidance arrangements or offshore structures. Contentiously, many 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 October 2014.

• 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?