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November 28, 2013: More than 30 Countries Working on the OECD’s Common Reporting Standard

Foreign Account Tax Compliance Act (FATCA)


Joint statement of 37 territories committed to early adoption of the CRS

On November 28, 2013, more than 30 countries released a joint statement announcing their commitment to early adoption of the Common Reporting Standard (CRS) that is being developed in the Organization for Economic Co-operation and Development (OECD).

The CRS draws on the U.S. FATCA regime and contains the reporting and due diligence standard that supports the automatic exchange of financial account information within the countries joining this initiative.

The countries announcing their support to the single global standard of automatic exchange of information are:

Anguilla France Jersey Portugal
Belgium Germany Liechtenstein Romania
Bermuda Gibraltar Luxembourg Slovakia
British Virgin Islands Greece Malta Slovenia
Cayman Islands Guemsey Mexico South Africa
Colombia Iceland Montserrat Spain
Czech Republic Ireland Netherlands Sweden
Denmark Isle of Man Norway Turks and Caicos
Finland Italy Poland United Kingdom

The joint statement also announces the role of the Global Forum in this initiative. The Global Forum will monitor and review the implementation of the new global standard on automatic exchange of information, including the need for confidentiality and proper use of the information exchanged. Likewise, the Global Forum aims to have an important role in offering technical assistance to developing countries. A new group within the Global Form will be composed for those interested in undertaking the automatic exchange of information.

Full article and copy of the joint statement available for download. For more information please contact a Deloitte FATCA Leader or click here.

As used in this document, “Deloitte” means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.


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