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27/06/2024 - The Global Forum Secretariat supported the Maldives Inland Revenue Authority (MIRA) in organising a seminar on the technical aspects of the Common Reporting Standard for the financial sector on 26 June 2024. The event brough together 55 compliance officers from the Maldives' banking and insurance sectors.
The Maldives commenced exchanges of information under the Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI Standard) in 2022. The virtual seminar aimed to refresh knowledge on the key concepts of the AEOI Standard, including the definitions of Financial Institutions, Reporting Financial Institutions and Financial Accounts, and the due diligence and reporting obligations imposed on Reporting Financial Institutions.
Experts from the Global Forum Secretariat and MIRA officials presented the technical aspects of the AEOI Standard through practical cases, which helped the compliance officers understand their obligations under the domestic AEOI legislations in Maldives.
The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the exchange of information on request standard and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.
The Global Forum capacity-building programme is supported by the following development partners:For more information, please contact gftaxcooperation@oecd.org.
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