Elan Keller Comments on Countries Signing Agreement for OECD Automatic Information Exchange
NEW YORK, Oct. 30, 2014 /PRNewswire/ -- Tax Analysts' Worldwide Tax Daily and Tax Notes Today quoted Caplin & Drysdale's Elan P. Keller concerning the recent Global Forum on Transparency and Exchange of Information for Tax Purposes meeting, which resulted in nearly 90 members committing to implement the common reporting standard (CRS) for the automatic exchange of tax information. While Mr. Keller commended the outcomes of the global forum, he also expressed concern with the OECD's lack of safeguards for taxpayer privacy.
Elan Keller of the New York office of Caplin & Drysdale told Tax Analysts he appreciates the breadth and depth of the standard on automatic information exchange, as well as the number of countries involved in the process. However, he said his biggest concern is that the OECD is not doing enough to address taxpayer privacy issues or establish confidentiality safeguards to prevent taxpayer information from falling into the wrong hands.
"The forum needs to spend more time addressing and setting out clear guidelines and safeguards on how they propose to protect taxpayer information," Keller said. "It seems like something that should work well in theory, but practically speaking, it's unnerving."
For additional coverage, please click on the links below.
- Bloomberg BNA and Tax Analysts Interview Elan Keller on OECD Forum Tax Chief's Pledge for Greater Cross-Border Cooperation
- Worldwide Tax Daily & Tax Notes Today Quote Elan Keller Concerning Global Implementation of OECD's BEPS Action Plan
- Bloomberg Interviews Elan Keller on OECD's Action Plan on Base Erosion and Profit Shifting
About Elan P. Keller
Elan P. Keller is a Member in Caplin & Drysdale's Corporate, Business & Transactional Tax, International Tax, Tax Controversies practice groups in the firm's New York office. Clients seek his advice on matters involving tax due diligence and structuring cross-border and domestic M&A transactions; the U.S. aspects of inbound and outbound operations; transfer pricing; corporate restructurings, reorganizations and distributions; capital markets and structured finance transactions; infrastructure and leasing transactions; and oil, gas, energy, and natural resource transactions. Mr. Keller can be reached at 212.379.6030 or [email protected].
About Caplin & Drysdale
For half a century, Caplin & Drysdale has been a leading provider of a full range of tax, tax controversy, and related legal services to companies, organizations, and individuals throughout the United States and around the world. With offices in New York City and Washington, D.C., the firm also provides counseling on matters relating to bankruptcy, creditors' rights, political activity, exempt organizations, complex litigation, employee benefits, private client services, corporate law, and white collar defense. For more information, please visit us at www.caplindrysdale.com.
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