OECD Forum on Tax Administration Agrees on Common Transmission System for CbC and CRS Information

According to a communiqué issued by the OECD Forum on Tax Administration (FTA) following a recent meeting in Beijing, the heads of 44 tax administrations have designed and agreed to a Common Transmission System (CTS) for the exchange of information. The CTS will enable tax administrations to exchange Country-by-Country (CbC) reports and information collected under the OECD Common Reporting Standard (CRS), as well as other information that may be exchanged between tax jurisdictions. It will pr…