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In collaboration with the G20 states, the OECD has prepared a new global standard for the international exchange of financial data. As of 2017, cross-border tax evasion will be further restricted through automatic exchange of information between tax authorities (Automatic Exchange of Information – AEOI). The new standard consists of two parts: common reporting and duediligence concerning the information on financial accounts (Common Reporting Standard – CRS) and a model for bilateral or multilateral intergovernmental agreements that will serve as the basis for the exchange of taxpayer data between these states (Model Competent Authority Agreement – CAA). The financial institutions of the signatory states are obliged to identify the accounts of private persons and companies residing in one of these countries.