A group of 16 jurisdictions have agreed to support the OECD’s disclosure rules on common reporting standards (CRS) on avoidance arrangements and opaque offshore structures.

The CRS is an international standard where OECD countries collect information on holders of accounts at their domestic banks and other financial institutions. This is then passed onto the authorities of other countries for use in tax enforcement.

The 16 signatories will collect information from intermediaries ...