The above means no notification to you about this disclosure to the Government of the country you are resident of, no privacy, no protection, no due process, essentially the loss of basic human rights contemplated on The Universal Declaration of Human Rights (See Article 12 of the Declaration (http://www.un.org/en/universal-declaration-human-rights/). The CRS has further developed the AEOI (Automatic Exchange of Information) via its Global Forum and implemented via the Convention on Mutual Administrative Assistance in Tax Matters, where almost 100 countries have signed and committed to start sharing information automatically starting as early as September 2017 (covering all of the year 2016).
The OECD and the countries that support this organisation have put your rights as a human being below what they call “Fair Tax Competition”, but one cannot imagine nothing else of politicians and bureaucrats that have most likely not work a single day in their life as entrepreneurs, as creators of jobs and wealth, but more importantly and also a contradiction to what they work for: they don’t pay taxes!
We are not stating here that you are not to pay taxes, however, this obligation cannot trample on basic human rights, hence our opposition to the AEOI. This is very dangerous ground the OECD is walking on, because who is going to guarantee the information obtained will not be misused or leaked? This will put people and businesses at risk of being strong-armed into bad deals or simply subject to “shake downs” by unscrupulous governments and in many places people may be subject to kidnappings and other terrible crimes. With today’s technologies and hackers being able to access government databases, as well as private companies, the dangers are very real and we don’t think countries can seriously guarantee our rights.
As pressure mounts on by the International Community on the so-called Tax Havens, it is only a matter of time when all countries in the World are participating of the AEOI with perhaps the exception of the United States of America, that has FATCA and thus far is using this a shield to divert the attention of the OECD, but also one has to consider the fact the USA is the biggest contributor of funds to the OECD.
Nevertheless, the CRS is based on tax residence. This means the country where you are presently paying your taxes, most likely on your worldwide income. The latter is the standard in most countries.
However, if you are retired or you are still working but you are mobile (work out of your laptop or by project in different places around the world) and do not wish to continue paying those high taxes, your solution, in our humble opinion, is to extricate yourself of any links to that country where you are presently considered a tax resident, effectively become a non resident for tax purposes of that country and become resident of a country with a territorial taxation or low taxes.
This is an option completely legitimate and you can still visit your home country for less than 183 days a year (this is the standard in most countries) and not become a tax resident in that country where you previously paid taxes.
This is not for everyone though, if you cannot become a non-resident for tax purposes where you live right now, because you have family, work or other things that tie you down and you cannot break those ties yet, this is not for you. As advised, getting a residence in a country with a territorial tax system or low taxes, to gain the freedom and privacy we are all entitled to, you have to be able to break the ties and effectively and legally become a no tax resident.
Imagine living in the country where you presently live for 6 or less months out of the year and the other 6 months travel the world or live in a country that is friendly to you, but also does not tax you on every penny you make outside of its borders. Imagine the possibility of gaining a new citizenship too, this is certainly feasible and useful, if in the future this CRS regime changes to a citizenship standard like FATCA (with the collusion of the biggest and most powerful countries in the world). This is a very real possibility, just look back and think when did you ever thought that it would come a day when governments would share information for tax purposes…automatically?