Oman on its way to implement CRS

From 7 to 11 April 2019, the Organization for Economic Cooperation and Development’s (“OECD”) Global Forum on Transparency and Exchange of Information for Tax Purposes met with tax senior official of Oman to implement an Automatic Exchange of Information (“AEOI”) induction program.

The OECD states that the induction program is designed to help new members of the Global Forum ensure a smooth implementation of the international standards and benefit from exchange of information in their fight against tax evasion. Oman, which joined the Global Forum in October 2018, is committed to implement the Common Reporting Standard (“CRS”) by 2020 and will be reviewed against this standard in the near future. The induction program will enable Oman to implement the AEOI standards and to prepare for its peer reviews (Link).

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