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Asian Wealth Solutions Forum 2019 - Exclusive Insights - Michael Olesnicky

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1. What pressure will the Mandatory Disclosure Rules that the OECD has published impose?

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1. What pressure will the Mandatory Disclosure Rules that the OECD has published impose?

This mandatory disclosure initiative was one of the 15 action plays that the OECD came up with as part of its BEPS initiative. And the idea is that the OECD is encouraging countries to enact laws to require taxpayers to mandatorily disclose their aggressive tax planning positions. As far as the OECD's con-cerned, the only example where that has so far been stipulated is in the case of CRS planning. They are requiring people who have taken CRS advise to disclose that to their local tax authority. And that raises a lot of concern about legal privilege, etc. And this is in addition to what the EU is doing about manda-tory disclosure of aggressive tax planning positions, as well.

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