IOTA Digital Forum on the Use of Data from Automatic Exchange of Information (AEOI)

The primary goal of the IOTA Forum on AEOI is to create a collaborative platform for experts from member tax administrations to develop effective strategies for accessing and utilising data related to the Automatic Exchange of Information (AEOI), the Common Reporting Standard (CRS), and the Foreign Account Tax Compliance Act (FATCA).

Over the 2 days, the event featured presentations from IOTA members of Belgium, France, Finland, Lithuania, Norway, Sweden, and the United Kingdom. Participants also received an update from the OECD, one of the IOTA international partner organisations, regarding the Global Forum's workings.

On the first day, attendees engaged in informative discussions focused on key updates from the OECD Global Forum on Transparency and Exchange of Information. Raynald Vial delivered this topic from the OECD Global Forum, whose invaluable insights enriched the presentations. Following this, participants delved into recent developments surrounding the CRS, including the Amended CRS and the implementation of the Crypto Asset Reporting Framework (CARF). The engaging conversations about the legislative and operational readiness of tax administrations for the implementation of CRS 2.0 and CARF highlighted the significance of cooperation and knowledge exchange among tax authorities. The subsequent member countries reflected on this topic:

• Belgium:  Operational Implementation of CRS 2.0; presented by Céline Lepage;
• France:  Implementation of the Crypto-Asset Reporting Framework (CARF) in France; co-presented by Anna Olias & Romain Perret;
• Finland: Utilising CARF momentum to raise the non-compliance rate in Finland now and in the future; presented by Juho Hasa.

The second day included engaging discussions on methods and procedures for using CRS data effectively to detect potential non-compliance in Financial Institutions (FI) and related audits performed in this field. IOTA member taxation experts shared practical tools and strategies to improve compliance within FIs and ensure accurate outbound data reporting. Moreover, methods developed by tax administrations to promote and enhance domestic taxpayer adherence were also discussed. These topics were addressed by the following IOTA member countries:

Lithuania: CRS Compliance Audits in Lithuania: Audit of an Insurance Company; presented by Birutė Bieliauskienė;

• France: Overall procedures for the use of CRS data to identify non-compliance of FIs and non-compliance of taxpayers; co-presented by Anna Olias & Romain Perret;
• Norway: Ensuring FI compliance – A risk-based approach; presented by Frank Warmbrodt;
• United Kingdom: HMRC Compliance - CRS Discrepancy Approach; co-presented by Neesha Bagla & Max Kettley;
• Sweden: Audits of foreign capital income and the long-term compliance effects; presented by Daniel Hallberg.

Each day at the Digital Forum, attendees engaged in lively and practical group discussions and Q&A sessions. The event wrapped up with feedback from the Group Discussions, and closing remarks from the event leaders, speakers, and participants. All materials and presentations from the Forum are now accessible online via the event's webpage, and a video recording will soon be available on the same platform. The AEOI Forum was facilitated by IOTA International Taxation Expert Alexandros Roukalis, with the support of his colleague Oksana Stepanenko.