OECD: Updated data exchange formats for global minimum tax, CARF; new FAQs on CARF, CRS
XML schemas and user guides to support reporting and exchange of information
The Organisation for Economic Cooperation and Development (OECD) today announced the release of two XML schemas and associated user guides to support the reporting and exchange of information under the global minimum tax (GMT) and the cryptoasset reporting framework (CARF):
- The GloBE Information Return (Pillar Two) Status Message XML Schema allows Competent Authorities that have received information through the GloBE Information Return (GIR) XML Schema to report back to the sending Competent Authority whether the information was provided in line with the agreed GIR validation rules.
- The updated version of the Crypto-Asset Reporting Framework (CARF) XML Schema supports the automatic exchange of information pursuant to the CARF, as approved by the OECD in 2023 and contains a number of technical adjustments on the CARF XML Schema approved in 2024.
The OECD also issued a new set of frequently asked questions (FAQs) to provide interpretative guidance on the CARF and the amended common reporting standard (CRS).