Operational Issues of AEoI

Abstract

This chapter looks at operational issues of AEoI including CRS. The primary issue is one of clear understanding both at board level and at operational level. This has been seen in FATCA and shows no signs of being different with AEoI. Firms are coming late and weak to their obligated deadlines as are many tax authorities. There is a lack of focus that is exacerbated in countries with radically different cultures and languages where the language of AEoI is English and the concepts very American. The key operational issues are related to packing and unpacking data and security of that data from start to finish. In all aspects of the current state of the industry, the authors observe that while the principles and objectives are laudable and governments may sign up to the framework, there is a lack of connectivity between that and the competency of those required to implement it.