International automatic exchange of tax information according to the CRS standard

In June 2018, Kazakhstan signed the Multilateral Competent Authority Agreement (“МСАА”), enabling it to meet the requirements of the OECD Standard for the Automatic Exchange of Financial Account Information (“CRS”), and is planning to make its first automated exchange of information in 2020 for 2019. The aim of the МСАА is to allow the competent authorities of one country to receive information on the financial accounts of its tax residents from financial organisations in other MCAA member countries.