I'm trying to understand how the automated exchange of tax information works between countries. I'm vaguely aware of the OECD's Common Reporting Standard "activating" this year and introducing some additional reporting responsibilities of customer's accounts for financial institutions, but I don't understand the details or know to what extent the automated exchange has been working already and what the CRS changes in terms of that.
What I'm mostly interested about is, what kinds of institutions are required to report information about their customers and to what extent? I understand that things like banks or brokerages have to share account information. But what about all the other various kinds of companies that in some way process payments/hold some funds of their customers?
For example, what about "online wallets" like Paypal/Neteller/Skrill? Do those share their customers' account information? What about all the sports betting sites, do they have to report? How about online marketplaces, where for example people sell/buy games, virtual items and so on among each other? The list could go on, but I think you understand my point - are only the "traditional" forms of financial insitutions required to report all this information, or do all these businesses that in some way process payments, participate in the automatic exchange of information?