Automatic exchange and cross border flows of personal data
Tokoha Law Review , Volume 3 - Issue 1 p. 45- 87
In this article, the implementation of automatic exchange of information is discussed with a focus on cross border flows of personal data. First, we discuss the legal framework for the exchange of information. Article 26 of the OECD Model Tax Convention, the Intergovernmental Agreements (IGAs) concluded to in relation to the US Foreign Account Tax Compliance Act (FATCA), the Agreement on Exchange of Information on Tax Matters and Tax Information Exchange Agreements (TIEAs), the EU Directive which obliges EU Member states to implement Common Reporting Standards, the OECD Country by Country Reporting (CbCR) Implementation Package (part of BEPS Action plan 13) and the EU Directive and other initiatives on the automatic exchange of information on tax rulings will each be analysed. Special attention will be given to the Japanese implementation of exchange of information. Second, we will discuss Taxpayer Identification Numbers (TINs) as these are deemed important in improving the effectiveness of the exchange of information. Third, we discuss protection of personal information in relation to the implementation of automatic exchange of information with a focus on cross border flows of personal data.