The USA has established legislative provisions on the tax compliance of foreign accounts (FATCA). According to the provisions, any individuals that pay taxes in the USA and maintain assets in financial institutions outside the USA may have to produce tax documents and be taxed in the USA.
CRS has been imposed in Europe through the European Directive on Administrative Cooperation (DAC2) and in OECD member-states that have signed multilateral agreements on the exchange of tax details.
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