OECD countries carry out automatic exchange of information on financial matters among themselves with the arrangement called “Common Reporting Standard (CRS)” since 2017. This includes automatic exchange of financial accounts between countries. Turkey also signed an agreement with the USA as part of “Foreign Account Tax Compliance Act (FATC A)”.

In addition, information on the activities and affiliates of multinational companies in other countries as part of the Multilateral Competent Authority Agreement on the Exchange of CbC Reports Agreement are annually subjected to automatic exchange of information among tax administrations.

The European Union (EU) has also released important arrangements (DAC6 etc.) regarding international exchange of information. EU regulations require reporting if it falls into one of a number of “hallmarks”. With the related Directive, a number of categories are defined with certain characteristics that are identified as potential indicators of aggressive tax planning. Reporting will be made by the relevant EU company if there is no intermediary.

Regarding your international information exchange obligations, we can provide consultancy to your company on the following topics:

  • Determining the obligations of your group and its affiliates within the scope of international exchange of information
  • Evaluation of the effects of Common Reporting Standard and country-based reporting on your company
  • Revealing the effects of the Directives issued by the European Union on your company and group
  • Taking the risk inventory of your company related to exchange of information and developing the necessary solutions

We have an experienced team of consultants who can evaluate your needs and offer the most relevant and appropriate solution for your organization's needs.

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