What does OHT mean in UNCLASSIFIED

OHT: OECD Harmonised Templates

The OECD Harmonised Templates (OHT) are a set of standardized templates developed by the Organisation for Economic Co-operation and Development (OECD) to facilitate the exchange of information between tax administrations. They are designed to promote transparency, consistency, and efficiency in international tax matters.

Purpose of OHT

The OHT provides a common framework for countries to use when exchanging tax-related information. They help to:

• Standardize the format and content of information exchanged
• Ensure the completeness and accuracy of the information
• Reduce the administrative burden associated with information exchange

Key Features of OHT

• Mandated by Multilateral Convention (MLC): OHT is mandated by the MLC to combat tax evasion and avoidance through the automatic exchange of information.
• Six Templates: OHT consists of six templates covering different types of income and assets, including:
  • Financial Account Information
  • Country-by-Country Reporting
  • Common Reporting Standard
  • Tax Rulings
  • Transfer Pricing Documentation
  • Beneficial Ownership Information
• XML Format: OHT templates use the Extensible Markup Language (XML) format, which enables the electronic exchange of structured data.

Benefits of Using OHT

• Improved Transparency: OHT enhances transparency by providing a standardized format for exchanging information.
• Increased Efficiency: The use of OHT reduces the time and effort required to exchange information.
• Reduced Compliance Costs: By using OHT, businesses can reduce their compliance costs related to information exchange.
• Enhanced Tax Enforcement: OHT supports tax administrations in identifying and addressing tax evasion and avoidance.