# digital banks/emi



## josemiller (May 18, 2018)

if an australian citizen was living in new zealand or vice versa and they wanted to have bank accounts under a new service called digital banks/electronic money institutions, would these financial services be monitored by oecd and the mutual exchange of information like crs, tax information exchange agreements, automatic exchange of information, ect........ or would only offshore banking be monitored this way? can someone please tell me about these new services. thank you.


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## Moulard (Feb 3, 2017)

Australia has implemented its domestic enabling legislation to support CRS in 2016.

I believe the Kiwi's did similar in 2017.

Outside of the CRS, and specific clauses in tax treaties, Australia has Tax Information Exchange Agreements with something like another 40 countries.

The Australia - New Zealand Dual Tax Convention provides for exchange of information between the two taxation authorities in Article 26 and provides for mutual assistance in the collection of tax debts between the two countries in Article 27.


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