The new Common Reporting Standard for automatic exchange of information in tax matters

The OECD published a Common Reporting Standard for automatic exchange of information in tax matters on the 13th February.  The report can be found here:

OECD Information Exchange

I haven't read the report but it seems to be closely allied to the Model 1 IGA approach under FATCA, but  designed for everybody, and I have seen a comment that given the deferral of FATCA implementation FATCA may eventually be subsumed by the OECD standard.

A couple of commentaries on the report that you might like to look at:

From KPMG :

KPMG OECD Exchange

And, in the interests of balance the Tax justice Network:

http://www.taxjustice.netOECD Exchange