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Standard for Automatic Exchange of Financial Account Information in Tax Matters (Common Reporting Standard - CRS)

The OECD Common Reporting Standard (CRS) mandates that financial institutions in participating jurisdictions collect and report financial account…

What Standard for Automatic Exchange of Financial Account Information in Tax Matters (Common Reporting Standard - CRS) requires

The OECD Common Reporting Standard (CRS) mandates that financial institutions in participating jurisdictions collect and report financial account information of non-resident customers to their local tax authorities for automatic exchange with other jurisdictions. This framework, detailed in Section I (General Reporting Requirements) and Sections II-VII (Due Diligence Procedures), aims to combat offshore tax evasion by increasing transparency.

Pillar: Tax & Transfer Pricing · Authority: Organisation for Economic Co-operation and Development (OECD) · Version: 1.0.0 · Last updated:

Primary source: https://www.oecd.org/tax/automatic-exchange/common-reporting-standard/

SHA-256 integrity: fb800210576d8c6417695a4ad5f0f303c4f2497a157c9093b0c771c30ba86e5e

Primary Citations — 7 traced to source

  • Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition: Section I - General Reporting Requirements
  • Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition: Section II - General Due Diligence Requirements

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