On May 17, 2022, in a keynote speech Lucy Frazer MP, Financial Secretary to the Treasury, stated that the increase in global transparency has seen HM Revenue and Customs (HMRC) bring in more than £500 million today as a direct result of the Automatic Exchange of Information Agreements (AEoI) such as the Common Reporting Standard (CRS). This comes as more than 100 jurisdictions have signed on to CRS with increased exchanges of taxpayer information.
Check out the keynote address here:
Make sure to follow Comply Exchange for more industry updates and subscribe to the Comply Catch-up for a full industry round-up at the end of each month!
