12 November 2018 Peru issues regulations for the implementation of OECD Common Reporting Standard Financial institutions should ensure they comply with the regulations and have the information they must report to the Peruvian Tax Authority. On November 10, 2018, Peru issued Supreme Decree 256-2018-EF, which contains the regulations for implementing the automatic exchange of financial information according to the Common Reporting Standard (CRS) of the OECD. Supreme Decree 256-2018-EF establishes the information financial institutions must report to the Peruvian Tax Authority for automatic exchanges under international agreements signed by Peru, as well as the due diligence procedures financial institutions must follow for reporting purposes. Peru has committed to undertake the first automatic information exchanges by 2020. Peru has already ratified the Convention on Mutual Administrative Assistance in Tax Matters, which entered into force in Peru on September 1, 2018. Document ID: 2018-2258 |
