About CRS

CRS (Common Reporting Standard) is an international standard for gathering information from financial institutions in the participating countries. It was developed by the Organization for Economic Co-operation and Development (OECD) to tackle tax evasion, improve the transparency and protect tax integrity.

In line with the CRS requirements, financial institutions in the participating jurisdictions are obliged to obtain certain information from their customers and share this information with the local tax authorities. The intent behind this is to identify the tax residency of customers.
Over 100 jurisdictions have taken part in CRS and agreed to automatic exchange and reporting of financial and tax-related information on an annual basis.

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