The Common Reporting Standard (CRS) developed in response to the G-20 call and approved by the Organization for Economic Cooperation and Development (OECD) on July 15, 2014, urges jurisdictions to obtain information from their financial institutions and automatically exchange it with other jurisdictions annually.
The CRS defines the type of financial information to be exchanged, the financial institutions subject to report such information, the different types of accounts, the reportable taxpayers, and the due diligence procedures that financial institutions must follow.
The international standard for automatic exchange of information on financial accounts consists of the following:
A model Competent Authority Agreement (model CAA) for the automatic exchange of information under the CRS;
The CRS;
Comments on the CAA and CRS; and,
The CRS XML Schema User Guide.
On November 10, 2018, Supreme Decree No. 256-2018-EF was published in the Official Gazette, which approves Regulations that establish the financial information to be provided to SUNAT (National Superintendency of Customs and Tax Administration) to carry out the automatic exchange of information as agreed in international treaties and the Decisions of the Commission of the Andean Community (hereinafter "the Regulations").
Likewise, on December 29, 2019, Superintendency Resolution No. 270-2019/SUNAT was published in the Official Gazette El Peruano, which establishes the standards for the filing of the financial information return for the automatic exchange of information, in which it is specified that the IR-AEOI System (https://aeoi.sunat.gob.pe) must be used for the return and the maximum filing date will be the one corresponding to the April tax period of the taxable year following the one to which the return corresponds.
For more information on the functionality of the IR-AEOI System you can download and review the "Financial Reporting Instructions".