Their goal is to combat tax evasion. The idea was based on the implementation agreements of the US Foreign Account Tax Compliance Act (FATCA), whose legal basis is the Convention on Mutual Tax Assistance. 97 countries have signed an implementation agreement and others intend to sign it at a later date. The first notifications took place in 2017, many of the others from 2018. Transparency groups have reacted in a number of ways, with some criticizing the fact that developing countries have not been considered and involved.  The collection and provision of information can be so costly and difficult for developing countries that it is not possible to participate in the regime. Instead of offering a period of non-reciprocity during which developing countries could simply obtain financial data, the only mention of non-reciprocal agreements is the reception of tax havens.  OECD initiatives have made it clear that the international community will not tolerate harmful tax practices in tax havens that deplete countries` tax bases. This is done naturally when the people of this country invest in tax havens. The hope is that the implementation of the MCAA and the various sanctions and sanctions will lead to the decline of many circumvention measures in practice.
On 4 June 2015, 61 countries signed the MCAA, with a number of others committed to the agreement to ensure that the majority of the international community strongly supports the OECD in the fight against tax evasion. The CRS MCAA provides details of the information that will be exchanged and when. It is a multilateral framework agreement. A specific bilateral relationship under the MCAA CRS only comes into force when the two jurisdictions have implemented the convention, submitted the necessary notifications in accordance with Section 7 and presented themselves to each other. In May 2014, 47 countries tentatively agreed on a “common reporting standard,” officially designated as the standard for the automatic exchange of financial account information: an automatic exchange of information on residents` assets and income in accordance with the standard.  Among the 34 OECD countries, Argentina, Brazil, China, Colombia, Costa Rica, India, Indonesia, Latvia, Lithuania, Malaysia, Saudi Arabia, Singapore and South Africa.  The MCAA implements the OECD standard for the automatic exchange of financial information. It is based on Article 6 of the OECD Multilateral Convention on Mutual Tax Assistance (multilateral convention), which stipulates that two or more parties can agree on the automatic exchange of information. Even if the MCAA is signed on a multilateral basis, effective exchange of information will take place bilaterally. The MCAA requires the competent authorities of the participating jurisdictions to automatically collect and exchange tax information imposed by OECD IRS. This means that each jurisdiction can negotiate and define its own accounts to declare in its agreement. [Citation required] Since October 2014[update], 51 countries have signed the Multilateral Competent Authority Agreement (MCAA) to automatically exchange information on the basis of Article 6 of the Convention on Mutual Tax Assistance.
 In July 2015[update], 53 countries signed the automatic exchange of information;  As of July 2016[update], 83 jurisdictions had signed the agreement.  Transparency groups have reacted differently and some criticize the fact that developing countries have not been taken into account and have not been included.