CRS and FATCA expert

Game Over for CRS Avoidance?

Peter Cotorceanu CRS, CRS Avoidance, OECD

As I mentioned in an e-mail yesterday, the OECD has published a discussion draft of proposed new rules requiring disclosure of CRS avoidance techniques. (The draft document, which was published only two days ago, is available here. The OECD’s press release is available here.) Among other things, the rules would: Target advisors and fiduciaries (“Intermediaries”) with “material involvement in the …

CRS and FATCA expert

Trusts with Settlor Reserved Powers: The New CRS Avoidance Tool?

Peter Cotorceanu CRS, CRS Avoidance Tool, OECD

In a topic critical to the CRS classification of certain trusts, a divergence is emerging between the prevailing consensus view and the rule as expressed in recent local guidance. To wit, are discretionary trusts for which the settlor reserved control over the investments of the trust assets nonetheless “managed by” their trustees? If the answer is no, then in the …